Mackay, Idaho Property Taxes
The median property tax rate in Mackay, Idaho is 0.63%, which is lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With a median home value of $149,695 in Mackay, the typical annual property tax bill is approximately $777, significantly below the national median of $2,690. Property taxes in Mackay are based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Mackay's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Mackay or another part of Custer County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mackay, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$943
Ownwell’s Mackay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mackay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mackay 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 Mackay, Idaho
Property taxes in Mackay, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mackay is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Mackay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mackay 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 Mackay's effective property tax rate to other areas in Idaho and the national median. For comparison, the zip code 83251 has both the highest and lowest median property tax rate of 0.63%. Understanding how these areas compare with Mackay provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mackay Tax Rate
0.63%
Average Custer County Tax Rate
0.40%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mackay, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83251 | 0.34% | 0.39% | 0.63% | 0.76% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Mackay, Idaho
In Mackay, 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 Custer 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 Mackay, 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 Mackay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mackay is $149,695, with the highest and lowest median tax bills both recorded at $777 in the 83251 zip code.
Average Mackay Assessed Value
$149,695
Average Custer County Assessed Value
$172,930
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mackay, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83251 | $30,295 | $69,438 | $149,695 | $246,168 | $375,410 |
Source: Ownwell
Property Tax Bills Across Mackay, Idaho
In Mackay, located in Custer County, ID, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The median home price in Mackay is $149,695. Homeowners in this area can expect a wide range of property tax bills. For instance, the 25th percentile tax bill is $372, while the 75th percentile tax bill reaches $1,384. At the 90th percentile, the tax bill can go up to $2,111. These variations depend on several factors, including the property's assessed value and the tax rate set by local taxing authorities. The highest and lowest median tax bills in this area are both recorded at $777 in the 83251 zip code. Compared to the national median property tax rate of 0.99%, Mackay's property tax bills can significantly impact homeowners, particularly those with properties assessed at higher values. This can influence decisions on home buying, selling, and long-term financial planning for residents.
Average Mackay Tax Bill
$777
Average Custer County Tax Bill
$617
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Mackay, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83251 | $179 | $372 | $777 | $1,384 | $2,111 |
Source: Ownwell