Idaho City, Idaho Property Taxes
The median property tax rate in Idaho City, ID is 0.31%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $292,310 in Idaho City, the typical annual property tax bill amounts to $984, which is well below the national median of $2,690. Property taxes in Idaho City are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Idaho City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Idaho City or another part of Boise County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Idaho City, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$906
$841
Ownwell’s Idaho City Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Idaho City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Idaho City to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities. For those interested in more detailed information, trends at the neighborhood level are also available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Idaho City, Idaho
Property taxes in Idaho City, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Idaho City is 0.31%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Idaho City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Idaho City estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Idaho City's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is found in Boise County, which has a median tax rate of 0.31%, while other regions in the state may have different rates. Understanding how these cities compare with Idaho City provides valuable insights into the varying tax landscape across Boise County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Idaho City Tax Rate
0.31%
Average Boise County Tax Rate
0.30%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Idaho City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83631 | 0.20% | 0.23% | 0.31% | 0.37% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Idaho City, Idaho
In Idaho City, Idaho, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Boise County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Idaho City, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Idaho City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $984, found in zip code 83631.
Average Idaho City Assessed Value
$292,310
Average Boise County Assessed Value
$366,025
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Idaho City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83631 | $20,232 | $119,701 | $292,310 | $475,084 | $658,762 |
Source: Ownwell
Property Tax Bills Across Idaho City, Idaho
In Idaho City, located in Boise County, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value typically reflects a percentage of the market value of the property. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. The median home price in Idaho City is $292,310, and the median property tax rate in Boise County is around 0.34%, significantly lower than the national median of 0.99%. Homeowners in Idaho City experience a range of tax bills, with the 25th percentile at $618 and the 75th percentile at $1,434. The 90th percentile tax bill reaches $2,093, indicating that higher-valued properties face steeper taxes. For all properties in the area, the median tax bill remains consistent at $984, regardless of the specific zip code. These property taxes fund essential local services such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents.
Average Idaho City Tax Bill
$984
Average Boise County Tax Bill
$1,257
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Idaho City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83631 | $389 | $618 | $984 | $1,434 | $2,093 |
Source: Ownwell