Corral, Idaho Property Taxes
The median property tax rate in Corral, Idaho is 0.46%, notably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Corral at $238,069, the typical annual property tax bill amounts to $885, which is significantly less than the national median of $2,690. Property taxes in Corral are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Gaining a clear understanding of Corral'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 Corral 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
Corral, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$1,095
Ownwell’s Corral Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Corral with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Corral to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular insights, scroll down to discover trends at the neighborhood level. Your property's assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Corral, Idaho
Property taxes in Corral, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Corral is 0.46%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Corral set these rates annually, and they can vary significantly across different neighborhoods. Each year, Corral 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 Corral's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83322 has both the highest and lowest median property tax rate of 0.46%. Understanding how these areas compare with Corral provides valuable insights into the varying tax landscape across Camas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Corral Tax Rate
0.46%
Average Camas County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Corral, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83322 | 0.22% | 0.25% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Corral, Idaho
In Corral, 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 Camas 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 Corral, 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 Corral helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Corral is $238,069, with tax bills ranging from $447 at the 25th percentile to $2,032 at the 90th percentile. The highest and lowest median tax bills, both at $885, are found in the 83322 zip code.
Average Corral Assessed Value
$238,069
Average Camas County Assessed Value
$196,324
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Corral, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83322 | $73,640 | $140,862 | $238,069 | $378,090 | $568,276 |
Source: Ownwell
Property Tax Bills Across Corral, Idaho
Property tax bills in Corral, situated in Camas County, Idaho, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the home. For instance, with a median home price of $238,069, the tax bill can vary significantly depending on the precise assessed value and applicable tax rate. The property tax rate in Corral is influenced by various factors including local government budgets, school district funding needs, and public service requirements. Homeowners in Corral experience a range of tax bills, with the 25th percentile at $447 and the 75th percentile at $1415, indicating a broad spectrum of property tax obligations. The 90th percentile tax bill reaches up to $2032, showing that higher-valued properties bear a more substantial tax burden. Compared to the national median property tax rate of 0.99%, Corral's property taxes can be seen as relatively moderate, providing a balanced fiscal environment for homeowners. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Corral Tax Bill
$885
Average Camas County Tax Bill
$754
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Corral, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83322 | $140 | $447 | $885 | $1,415 | $2,032 |
Source: Ownwell