Kootenai, Idaho Property Taxes
The median property tax rate in Kootenai, ID is 0.31%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With a median home value of $399,742 in Kootenai, the typical annual property tax bill amounts to $1,294, which is well below the national median of $2,690. Property taxes in Kootenai are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Kootenai'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 Kootenai or another part of the city, getting to know the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kootenai, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$1,239
Ownwell’s Kootenai Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kootenai with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kootenai to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kootenai, Idaho
Property taxes in Kootenai, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kootenai is 0.58%, which is higher than the Idaho state median of 0.69% but still below the U.S. national median of 0.99%. Local government entities within Kootenai set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kootenai 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 Kootenai's effective property tax rate to other counties in Idaho and the national median. For comparison, Bonner County has a median property tax rate of 0.31%. Understanding how these counties compare with Kootenai provides valuable insights into the varying tax landscape across Idaho, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kootenai Tax Rate
0.31%
Average Bonner County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kootenai, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83840 | 0.26% | 0.29% | 0.31% | 0.49% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Kootenai, Idaho
In Kootenai, 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 local 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 Kootenai, 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 Kootenai helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price stands at $399,742, with the 25th percentile tax bill at $803 and the 75th percentile at $1,706. Notably, the highest and lowest median tax bills are both $1,294, found in the 83840 zip code.
Average Kootenai Assessed Value
$399,742
Average Bonner County Assessed Value
$479,353
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kootenai, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83840 | $129,564 | $264,352 | $399,742 | $479,473 | $541,844 |
Source: Ownwell
Property Tax Bills Across Kootenai, Idaho
Property tax bills in Kootenai, located in Bonner County, ID, are determined by assessing the market value of a property and applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. For instance, with a median home price of $399,742, homeowners in Kootenai can expect their property tax bills to vary. At the 25th percentile, tax bills are around $803, while at the 75th percentile, they rise to approximately $1,706. The 90th percentile sees tax bills reaching up to $2,299. Compared to the national median property tax rate of 0.99%, Kootenai's rates can be relatively lower, depending on the specific assessed value and applicable exemptions. These property taxes fund essential local services such as schools, infrastructure, and emergency services. As a result, homeowners benefit from well-maintained community resources, although the tax rates may impact their annual budget.
Average Kootenai Tax Bill
$1,294
Average Bonner County Tax Bill
$1,672
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Kootenai, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83840 | $366 | $803 | $1,294 | $1,706 | $2,299 |
Source: Ownwell