Almo, Idaho Property Taxes
The median property tax rate in Almo, ID is 0.39%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $174,560, the typical annual property tax bill in Almo is $579, which is well below the national median of $2,690. Property taxes in Almo are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Almo'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 Almo or another part of Cassia County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Almo, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$681
$632
Ownwell’s ALMO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALMO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALMO 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 Almo, Idaho
Property taxes in Almo, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Almo is 0.39%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Almo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Almo 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 Almo's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is found in zip code 83702 at 1.15%, while the lowest median tax rate is in zip code 83201 at 0.25%. Understanding how these cities compare with Almo provides valuable insights into the varying tax landscape across Cassia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Almo Tax Rate
0.39%
Average Cassia County Tax Rate
0.38%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Almo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83312 | 0.27% | 0.30% | 0.39% | 0.60% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Almo, Idaho
In Almo, 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 Cassia 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 Almo, 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. For instance, the median home price in Almo is $174,560, with tax bills ranging from $302 at the 25th percentile to $1,621 at the 90th percentile. The zip code 83312 has both the highest and lowest median tax bill at $579. 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 Almo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Almo Assessed Value
$174,560
Average Cassia County Assessed Value
$232,517
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Almo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83312 | $25,592 | $64,884 | $174,560 | $289,232 | $413,405 |
Source: Ownwell
Property Tax Bills Across Almo, Idaho
In Almo, located in Cassia County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate, expressed as a percentage, is applied to this value to determine the annual property tax bill. For homeowners in Almo, the property tax rate is crucial. With a median home price of $174,560, the tax bills can vary significantly. For instance, the 25th percentile tax bill is $302, while the 75th percentile reaches $1,232, and the 90th percentile can go up to $1,621. This variation shows how different factors, such as property improvements and neighborhood developments, can affect the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Almo’s property tax bills reflect a range of financial impacts on homeowners, influencing their annual budgeting and long-term financial planning.
Average Almo Tax Bill
$579
Average Cassia County Tax Bill
$844
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Almo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83312 | $140 | $302 | $579 | $1,232 | $1,621 |
Source: Ownwell