Bonners Ferry, Boundary County, Idaho Property Taxes
The median property tax rate in Bonners Ferry, ID is 0.32%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Bonners Ferry at $374,000, the typical annual property tax bill is $1,272, which is below the national median of $2,690. Property taxes in Bonners Ferry 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 Bonners Ferry'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 Bonners Ferry 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
Bonners Ferry, Boundary County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$1,197
$1,111
Ownwell’s Bonners Ferry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bonners Ferry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bonners Ferry 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 Bonners Ferry, Boundary County, Idaho
Property taxes in Bonners Ferry, Idaho, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonners Ferry is 0.32%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Bonners Ferry set these rates annually, and they can vary across different neighborhoods. Each year, Bonners Ferry 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. Understanding how Bonners Ferry's property tax rate compares with other areas provides valuable insights into the varying tax landscape across Boundary County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonners Ferry Tax Rate
0.32%
Average Boundary County Tax Rate
0.33%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bonners Ferry, Boundary County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83805 | 0.26% | 0.28% | 0.32% | 0.44% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Bonners Ferry, Boundary County, Idaho
In Bonners Ferry, 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 Boundary 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 Bonners Ferry, 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 Bonners Ferry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,272, found in zip code 83805.
Property Tax Assessment Values Across Bonners Ferry, Boundary County, Idaho
Source: Ownwell
$243,895
$320,738
$397,580
Average Bonners Ferry Assessed Value
$374,000
Average Boundary County Assessed Value
$368,060
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bonners Ferry, Boundary County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83805 | $95,130 | $235,690 | $374,000 | $546,670 | $732,510 |
Source: Ownwell
Property Tax Bills Across Bonners Ferry, Boundary County, Idaho
In Bonners Ferry, Idaho, located in Boundary County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $374,000, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as the property's location within specific zip codes, like 83805, and any applicable exemptions or deductions play a significant role in determining the final tax bill. Homeowners in Bonners Ferry might see tax bills ranging from the 25th percentile at $753 to the 75th percentile at $1,847, with the 90th percentile reaching up to $2,469. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding how property taxes are calculated can help homeowners in Bonners Ferry plan their finances more effectively and potentially seek available exemptions to reduce their tax burden.
Average Bonners Ferry Tax Bill
$1,272
Average Boundary County Tax Bill
$1,244
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Bonners Ferry, Boundary County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83805 | $321 | $753 | $1,272 | $1,847 | $2,469 |
Source: Ownwell