Rexburg, Idaho Property Taxes
The median property tax rate in Rexburg, ID is 0.99%, aligning with the national median but significantly higher than the Idaho state median of 0.50%. With the median home value in Rexburg at $338,981, the typical annual property tax bill reaches $3,373, surpassing the national median of $2,690. Property taxes in Rexburg are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Rexburg'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 Rexburg 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
Rexburg, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$3,356
$3,114
Ownwell’s Rexburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rexburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rexburg 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 Rexburg, Idaho
Property taxes in Rexburg, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rexburg is 0.99%, aligning with the U.S. national median of 0.99%. Local government entities within Rexburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rexburg 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 Rexburg's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83440 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Rexburg 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 Rexburg Tax Rate
0.99%
Average Bonneville County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rexburg, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83440 | 0.99% | 0.99% | 0.99% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Rexburg, Idaho
In Rexburg, 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 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 Rexburg, 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 Rexburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Rexburg, both at $3,373, are found in the 83440 zip code.
Average Rexburg Assessed Value
$338,981
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 Rexburg, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83440 | $338,981 | $338,981 | $338,981 | $338,981 | $338,981 |
Source: Ownwell
Property Tax Bills Across Rexburg, Idaho
In Rexburg, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value, reflecting its worth in the real estate market. Factors such as the property's size, location, condition, and any improvements or additions can influence this assessed value. Once the assessed value is established, the local tax rate is applied. In Bonneville County, where Rexburg is located, the median property tax rate is compared to the national median of 0.99%. For instance, with a median home price of $338,981, homeowners can expect a median tax bill of $3,373. This figure remains consistent across various percentiles, indicating a stable tax environment. The property tax bill directly impacts homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated helps homeowners budget accordingly and recognize the value of the services funded by their contributions.
Average Rexburg Tax Bill
$3,373
Average Bonneville County Tax Bill
$1,646
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Rexburg, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83440 | $3,373 | $3,373 | $3,373 | $3,373 | $3,373 |
Source: Ownwell