Palisades, Idaho Property Taxes
The median property tax rate in Palisades, Idaho is 0.33%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With a median home value of $371,080 in Palisades, the typical annual property tax bill is $1,225, well below the national median of $2,690. Property taxes in Palisades are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Palisades' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Palisades 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
Palisades, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$1,225
Ownwell’s Palisades Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palisades with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palisades 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 Palisades, Idaho
Property taxes in Palisades, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palisades is 0.33%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Palisades set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palisades 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 Palisades' effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in the state is 0.80%, while the lowest median tax rate is 0.25%. Understanding how these cities compare with Palisades 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 Palisades Tax Rate
0.33%
Average Bonneville County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palisades, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83428 | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Palisades, Idaho
In Palisades, 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 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 Palisades, 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 Palisades helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the highest and lowest median tax bills in Palisades are both $1,225, found in the 83428 zip code. This uniformity highlights the importance of understanding assessed values to ensure fair taxation.
Average Palisades Assessed Value
$371,080
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 Palisades, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83428 | $371,080 | $371,080 | $371,080 | $371,080 | $371,080 |
Source: Ownwell
Property Tax Bills Across Palisades, Idaho
In Palisades, located in Bonneville County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Palisades is $371,080. Homeowners can expect their property tax bill to be influenced by this assessed value and the local tax rate. The median property tax rate in the United States is 0.99%, and Palisades follows a similar trend with its tax bills. For homeowners in Palisades, the tax bills typically range around $1,225, which is consistent across the 25th, 75th, and 90th percentiles. This uniformity suggests a stable and predictable property tax environment. The highest and lowest median tax bills in Palisades are also $1,225, indicating a consistent approach to property taxation within the area. This stability in tax bills can help homeowners plan their finances more effectively, ensuring that they are prepared for their annual property tax obligations.
Average Palisades Tax Bill
$1,225
Average Bonneville County Tax Bill
$1,646
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Palisades, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83428 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 |
Source: Ownwell