Las Vegas, Idaho Property Taxes
The median property tax rate in Las Vegas, Idaho is 0.40%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Las Vegas, the typical annual property tax bill reaches $17, significantly below the national median of $2,690. Property taxes in Las Vegas 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 Las Vegas's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Las Vegas or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Las Vegas, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$17
$16
Ownwell’s Las Vegas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Las Vegas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Las Vegas 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 Las Vegas, Idaho
Property taxes in Las Vegas, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Las Vegas is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within Las Vegas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Las Vegas 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 Las Vegas's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Bonneville County is 0.50%, while the lowest median tax rate is 0.30%. Understanding how these cities compare with Las Vegas 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 Las Vegas Tax Rate
0.40%
Average Bonneville County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Las Vegas, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89146 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Las Vegas, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Las Vegas, Idaho. 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 Assessment 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 Las Vegas, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest tax bills is 83401, while the lowest is 83402, offering a clear perspective on the range of property tax obligations within the city.
Average Las Vegas Assessed Value
$4,255
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 Las Vegas, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89146 | $4,255 | $4,255 | $4,255 | $4,255 | $4,255 |
Source: Ownwell
Property Tax Bills Across Las Vegas, Idaho
In Las Vegas, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the Bonneville County Assessor's Office and represents a percentage of the property's market value. Factors such as location, property size, and improvements are considered when determining the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Las Vegas, the tax bill can vary significantly. For instance, the 25th, 75th, and 90th percentiles all have tax bills around $17, indicating a relatively consistent tax burden across different property values. This consistency can provide some predictability for homeowners. Comparing this to the national median property tax rate of 0.99%, Las Vegas homeowners might find their property taxes to be more manageable, depending on their property's assessed value. Understanding these factors is crucial for homeowners as they plan their finances and consider the long-term costs of owning property in Las Vegas.
Average Las Vegas Tax Bill
$17
Average Bonneville County Tax Bill
$1,646
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Las Vegas, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89146 | $17 | $17 | $17 | $17 | $17 |
Source: Ownwell