Washington, Idaho Property Taxes
The median property tax rate in WASHINGTON, 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 WASHINGTON at $80,878, the typical annual property tax bill amounts to $399, significantly below the national median of $2,690. Property taxes in WASHINGTON are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding WASHINGTON'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 WASHINGTON 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
Washington, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$396
Ownwell’s Washington Property Tax Bill Calculator allows homeowners, real estate investors, and potential owners to estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Idaho
Property taxes in Washington, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 0.49%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other counties in Idaho and the national median. For comparison, the 84780 zip code has the highest median property tax rate of 0.49%, while the 84780 zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Washington 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 Washington 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 Washington, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84780 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Idaho
In Washington, 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 84780, with a median tax bill of $399, while the lowest median tax bill is also in zip code 84780, at $399.
Average Washington Assessed Value
$80,878
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 Washington, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84780 | $80,878 | $80,878 | $80,878 | $80,878 | $80,878 |
Source: Ownwell
Property Tax Bills Across Washington, Idaho
In Washington, 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 this area is $80,878. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Bonneville County, the median property tax bill stands uniformly at $399, whether looking at the 25th, 75th, or even 90th percentile. Several factors influence this tax bill, including the overall property market trends and any applicable exemptions or deductions. Homeowners should note that property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, the property tax rate in Washington, Bonneville County, reflects a more affordable scenario for homeowners. This consistency in tax bills provides a predictable financial landscape, allowing homeowners to budget effectively for their annual expenses.
Average Washington Tax Bill
$399
Average Bonneville County Tax Bill
$1,646
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84780 | $399 | $399 | $399 | $399 | $399 |
Source: Ownwell