Tetonia, Idaho Property Taxes
The median property tax rate in Tetonia, ID is 0.66%, which is lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With a median home value of $239,099 in Tetonia, the typical annual property tax bill amounts to $1,580, significantly below the national median of $2,690. Property taxes in Tetonia are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Tetonia'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 Tetonia or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tetonia, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,578
Ownwell’s Tetonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tetonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tetonia 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 Tetonia, Idaho
Property taxes in Tetonia, Idaho, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Tetonia is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Tetonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tetonia 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 Tetonia's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83452 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Tetonia provides valuable insights into the varying tax landscape across Teton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tetonia Tax Rate
0.66%
Average Bonneville County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tetonia, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83452 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Tetonia, Idaho
In Tetonia, 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 Tetonia, 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 Tetonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 83452, with a value of $1,580.
Average Tetonia Assessed Value
$239,099
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 Tetonia, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83452 | $239,099 | $239,099 | $239,099 | $239,099 | $239,099 |
Source: Ownwell
Property Tax Bills Across Tetonia, Idaho
In Tetonia, located in Bonneville County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Tetonia, the median home price is $239,099, and the property tax rate is relatively modest compared to the national median of 0.99%. The typical property tax bill in this area is around $1,580, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity suggests a stable tax environment for residents. Understanding how property tax bills are calculated helps homeowners in Tetonia plan their finances better. With a predictable tax bill, residents can budget more effectively, ensuring they meet their obligations without unexpected financial strain.
Average Tetonia Tax Bill
$1,580
Average Bonneville County Tax Bill
$1,646
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Tetonia, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83452 | $1,580 | $1,580 | $1,580 | $1,580 | $1,580 |
Source: Ownwell