Caribou County, Idaho Property Taxes
The median property tax rate in Caribou County is 0.73%, which is significantly lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With a median home value of $58,764 in Caribou County, the typical annual property tax bill is approximately $502, well below the national median of $2,690. Property taxes in Caribou County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Caribou 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 Soda Springs or another part of Caribou County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caribou County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$429
$398
Ownwell’s Caribou County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caribou County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Caribou County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Caribou County, Idaho
Property taxes in Caribou County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Caribou County is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Caribou County set these rates annually, and they can vary significantly between different areas within the county. Each year, Caribou 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 Soda Springs has one of the higher property tax rates in the region at 0.82%, while the city of Wayan boasts one of the lowest at 0.53%. Analyzing how Caribou County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Caribou County Tax Rate
0.73%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caribou County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bancroft | 0.46% | 0.64% | 0.74% | 1.02% | 2.06% |
| Grace | 0.43% | 0.59% | 0.72% | 0.98% | 1.46% |
| Soda Springs | 0.45% | 0.53% | 0.82% | 1.26% | 1.51% |
| Wayan | 0.23% | 0.28% | 0.53% | 0.54% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Caribou County, Idaho
In Caribou 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 Caribou 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 Caribou 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, Wayan has the highest median tax bill at $1,207, while Soda Springs has the lowest at $166. Being aware of these valuation processes in Caribou County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Caribou County Assessed Value
$58,764
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caribou County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bancroft | $8,770 | $12,618 | $87,623 | $254,815 | $488,956 |
| Grace | $7,320 | $21,052 | $122,966 | $239,854 | $452,775 |
| Soda Springs | $4,789 | $7,358 | $16,046 | $171,509 | $291,225 |
| Wayan | $35,050 | $122,386 | $270,363 | $321,925 | $652,215 |
Source: Ownwell
Property Tax Bills Across Caribou County, Idaho
Property tax bills in Caribou County, Idaho, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is influenced by factors such as the property's market value, location, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. In Caribou County, the median home price is $58,764, which is relatively low compared to national figures. Property tax bills vary significantly within the county, with the 25th percentile at $99 and the 75th percentile at $1,368. The 90th percentile reaches up to $2,395, indicating a wide range of property values and tax obligations. For instance, Wayan has the highest median tax bill at $1,207, while Soda Springs has the lowest at $166. These variations can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Caribou County Tax Bill
$502
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Caribou County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bancroft | $87 | $153 | $658 | $1,546 | $2,726 |
| Grace | $71 | $145 | $886 | $1,650 | $3,459 |
| Soda Springs | $55 | $85 | $166 | $1,103 | $1,996 |
| Wayan | $138 | $329 | $1,207 | $1,688 | $3,278 |
Source: Ownwell