Sandpoint, Idaho Property Taxes
The median property tax rate in Sandpoint, Idaho is 0.42%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Sandpoint, the typical annual property tax bill is $1,207, well below the national median of $2,690. Property taxes in Sandpoint are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sandpoint'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 Sandpoint 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
Sandpoint, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,234
Ownwell’s Sandpoint Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sandpoint with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sandpoint 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 Sandpoint, Idaho
Property taxes in Sandpoint, Idaho, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Sandpoint is 0.42%, significantly lower than the U.S. national median of 0.99%. Local government entities within Sandpoint set these rates annually, and they can vary across different neighborhoods. Each year, Sandpoint 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 Sandpoint's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83864 has both the highest and lowest median property tax rate of 0.42%. Understanding how these areas compare with Sandpoint 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 Sandpoint Tax Rate
0.42%
Average Boundary County Tax Rate
0.33%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sandpoint, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83864 | 0.27% | 0.32% | 0.42% | 0.48% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Sandpoint, Idaho
In Sandpoint, 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 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. 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 Sandpoint helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Sandpoint, the highest and lowest median tax bills are both $1,207, found in zip code 83864.
Average Sandpoint Assessed Value
$293,764
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 Sandpoint, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83864 | $11,822 | $205,130 | $293,764 | $530,570 | $704,430 |
Source: Ownwell
Property Tax Bills Across Sandpoint, Idaho
In Sandpoint, Boundary County, ID, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $293,764, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. For instance, tax bills in Sandpoint range from the 25th percentile at $731 to the 75th percentile at $1,817, with the 90th percentile reaching up to $2,709. The highest median tax bill recorded in the area is $1,207, which is significantly lower than the national median property tax rate of 0.99%. These factors combined mean that while property taxes in Sandpoint are relatively manageable, they still represent a significant consideration for homeowners. Understanding these elements helps homeowners better anticipate their annual financial obligations and plan accordingly.
Average Sandpoint Tax Bill
$1,207
Average Boundary County Tax Bill
$1,244
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Sandpoint, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83864 | $230 | $731 | $1,207 | $1,817 | $2,709 |
Source: Ownwell