Butte County, Idaho Property Taxes
The median property tax rate in Butte County is 0.85%, which is lower than the national median of 0.99% but significantly higher than the Idaho state median of 0.50%. With a median home value of $125,344 in Butte County, the typical annual property tax bill is $1,276, which is well below the national median of $2,690. Property taxes in Butte County are calculated based on the assessed value, which generally falls below the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Butte County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Arco or another part of Butte County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Butte County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,065
$989
Ownwell’s Butte County Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Butte County with just two data points. By entering your property's estimated assessed value, our calculator uses the median tax rate in Butte County to provide an estimate of your property tax bill. This tool is invaluable for understanding potential tax liabilities. For more localized information, you can scroll down to explore trends at the city level. The assessed value is the amount assigned to your property by the county for tax calculations, factoring in any exemptions you may qualify for.
Property Tax Rates Across Butte County, Idaho
Property taxes in Butte County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Butte County is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Butte County set these rates annually, and they can vary significantly between different areas within the county. Each year, Butte County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Arco has one of the higher property tax rates in Idaho at 0.88%, while the city of Moore boasts one of the lowest at 0.59%. Analyzing how Butte County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Butte County Tax Rate
0.85%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Butte County, Idaho
In Butte County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Butte County Appraisal District. The assessed value, however, 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 in Butte County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Howe has the highest median tax bill at $1,843, while Arco has the lowest at $891. Being aware of these valuation processes in Butte County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Butte County Assessed Value
$125,344
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Bills Across Butte County, Idaho
In Butte County, ID, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in the county is $125,344. Homeowners in Butte County experience a range of tax bills, with the 25th percentile tax bill at $762 and the 75th percentile reaching $2,053. The 90th percentile tax bill can go up to $3,045. Factors influencing these tax bills include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, homeowners in Howe face the highest median tax bill at $1,843, while those in Arco have the lowest at $891. These variations significantly impact homeowners, influencing their annual financial planning and potentially affecting home affordability. Compared to the national median property tax rate of 0.99%, Butte County's diverse tax bills reflect the unique economic and property value conditions within the region.
Average Butte County Tax Bill
$1,276
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690