Peck, Idaho Property Taxes
The median property tax rate in Peck, Idaho is 0.60%, slightly higher than both the state median of 0.50% and the national median of 0.99%. With the median home value in Peck at $187,479, the typical annual property tax bill is $846, which is significantly lower than the national median of $2,690. Property taxes in Peck are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Peck's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Peck 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
Peck, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,125
$1,044
Ownwell’s Peck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peck 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 Peck, Idaho
Property taxes in Peck, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peck is 0.60%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Peck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peck 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 Peck's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83545 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Peck provides valuable insights into the varying tax landscape across Clearwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Peck Tax Rate
0.60%
Average Clearwater County Tax Rate
0.67%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peck, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83545 | 0.43% | 0.49% | 0.60% | 0.75% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Peck, Idaho
In Peck, 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 Clearwater 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 Peck, 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 Peck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 83545, with a median tax bill of $846.
Average Peck Assessed Value
$187,479
Average Clearwater County Assessed Value
$173,988
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peck, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83545 | $45,978 | $92,690 | $187,479 | $345,185 | $577,904 |
Source: Ownwell
Property Tax Bills Across Peck, Idaho
Property tax bills in Peck, located in Clearwater County, ID, 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 meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Peck, the median home price is $187,479. Homeowners in the 25th percentile pay around $467 in property taxes, while those in the 75th percentile see bills closer to $2,037. For the top 10% of homeowners, property tax bills can reach up to $3,415. These property tax bills directly impact homeowners by affecting their annual budgets and potentially influencing their decisions about buying or selling property. Compared to the national median property tax rate of 0.99%, homeowners in Peck experience a varied range of tax burdens.
Average Peck Tax Bill
$846
Average Clearwater County Tax Bill
$1,091
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Peck, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83545 | $271 | $467 | $846 | $2,037 | $3,415 |
Source: Ownwell