Idaho Falls, Idaho Property Taxes
The median property tax rate in Idaho Falls, ID is 0.49%, which is notably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Idaho Falls, the typical annual property tax bill amounts to $1,664, significantly below the national median of $2,690. Property taxes in Idaho Falls are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Idaho Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Idaho Falls or another part of Bonneville County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Idaho Falls, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,693
$1,571
Ownwell’s Idaho Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Idaho Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Idaho Falls 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 Idaho Falls, Idaho
Property taxes in Idaho Falls, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Idaho Falls is 0.49%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Idaho Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Idaho Falls 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 Falls' effective property tax rate to other zip codes in Bonneville County and the national median. For comparison, the 83404 zip code has the highest median property tax rate of 0.53%, while the 83401 zip code has the lowest median tax rate of 0.43%. Understanding how these cities compare with Idaho Falls provides valuable insights into the varying tax landscape across Bonneville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Idaho Falls Tax Rate
0.49%
Average Bonneville County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Idaho Falls, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83401 | 0.32% | 0.36% | 0.43% | 0.58% | 0.95% |
| 83402 | 0.30% | 0.42% | 0.50% | 0.66% | 0.97% |
| 83404 | 0.38% | 0.45% | 0.53% | 0.60% | 0.93% |
| 83406 | 0.35% | 0.38% | 0.40% | 0.45% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Idaho Falls, Idaho
In Idaho Falls, 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 Bonneville County Assessor's Office 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 Falls, 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 Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Idaho Falls is $2,388 in the 83406 zip code, while the lowest median tax bill is $1,469 in the 83401 zip code.
Average Idaho Falls Assessed Value
$345,464
Average Bonneville County Assessed Value
$349,759
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Idaho Falls, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83401 | $102,775 | $249,300 | $333,329 | $426,987 | $536,370 |
| 83402 | $111,281 | $238,952 | $305,662 | $396,815 | $482,494 |
| 83404 | $228,768 | $293,170 | $387,128 | $498,420 | $627,982 |
| 83406 | $283,760 | $419,763 | $554,910 | $736,339 | $922,698 |
Source: Ownwell
Property Tax Bills Across Idaho Falls, Idaho
In Idaho Falls, located in Bonneville County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Idaho Falls see a range of property tax bills, influenced by factors such as property location, size, and market conditions. For instance, the median home price in the area is $345,464. Property tax bills can vary significantly within the city. The 25th percentile tax bill is around $1,093, while the 75th percentile tax bill is approximately $2,413. At the higher end, the 90th percentile tax bill reaches up to $3,260. The highest median tax bill in Idaho Falls is found in the 83406 zip code, at $2,388, whereas the lowest median tax bill is in the 83401 zip code, at $1,469. These variations impact homeowners differently, depending on their property's assessed value and location within the city.
Average Idaho Falls Tax Bill
$1,664
Average Bonneville County Tax Bill
$1,646
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Idaho Falls, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83401 | $398 | $960 | $1,469 | $2,049 | $2,807 |
| 83402 | $426 | $1,000 | $1,549 | $2,249 | $2,910 |
| 83404 | $945 | $1,444 | $2,147 | $2,967 | $3,869 |
| 83406 | $1,079 | $1,676 | $2,388 | $3,090 | $4,050 |
Source: Ownwell