Murtaugh, Idaho Property Taxes
The median property tax rate in Murtaugh, Idaho is 0.44%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $357,175 in Murtaugh, the typical annual property tax bill amounts to $1,466, which is well below the national median of $2,690. Property taxes in Murtaugh are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Murtaugh'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 Murtaugh or another part of Cassia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Murtaugh, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,572
$1,458
Ownwell’s Murtaugh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murtaugh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murtaugh 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 Murtaugh, Idaho
Property taxes in Murtaugh, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murtaugh is 0.44%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Murtaugh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murtaugh 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 Murtaugh's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83344 has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Murtaugh 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 Murtaugh Tax Rate
0.44%
Average Cassia County Tax Rate
0.38%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murtaugh, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83344 | 0.26% | 0.31% | 0.44% | 0.63% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Murtaugh, Idaho
In Murtaugh, 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 Murtaugh, 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 Murtaugh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $357,175, with tax bills ranging from $677 at the 25th percentile to $4,013 at the 90th percentile. The zip code 83344 sees the highest and lowest median tax bills, both at $1,466.
Average Murtaugh Assessed Value
$357,175
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 Murtaugh, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83344 | $98,606 | $232,396 | $357,175 | $457,164 | $536,300 |
Source: Ownwell
Property Tax Bills Across Murtaugh, Idaho
In Murtaugh, located in Cassia County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Murtaugh experience a range of property tax bills, with the 25th percentile at $677 and the 75th percentile reaching $2,308. At the 90th percentile, the tax bill can climb to $4,013. This variability highlights the impact of property values and specific tax rates on individual tax obligations. The median home price in Murtaugh is $357,175, which influences the overall tax calculation. Compared to the national median property tax rate of 0.99%, homeowners in Murtaugh might find their tax bills to be in line or slightly higher depending on their property's assessed value. Understanding these factors is crucial for homeowners as it directly affects their annual financial planning and overall cost of homeownership.
Average Murtaugh Tax Bill
$1,466
Average Cassia County Tax Bill
$844
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Murtaugh, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83344 | $281 | $677 | $1,466 | $2,308 | $4,013 |
Source: Ownwell