King Hill, Idaho Property Taxes
The median property tax rate in King Hill, ID is 0.39%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in King Hill, the typical annual property tax bill is $672, far below the national median of $2,690. Property taxes in King Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding King Hill'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 King Hill 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
King Hill, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$733
Ownwell’s KING HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in KING HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in KING HILL 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 King Hill, Idaho
Property taxes in King Hill, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in King Hill is 0.39%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within King Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, King Hill 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. Understanding how King Hill's effective property tax rate compares to other regions in the state and the national median provides valuable insights into the varying tax landscape across Elmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average King Hill Tax Rate
0.39%
Average Elmore County Tax Rate
0.50%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across King Hill, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83633 | 0.25% | 0.30% | 0.39% | 0.60% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across King Hill, Idaho
In King Hill, 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 Elmore 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 King Hill, 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, in zip code 83633, the median tax bill is $672. 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 King Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average King Hill Assessed Value
$187,896
Average Elmore County Assessed Value
$276,790
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across King Hill, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83633 | $5,703 | $54,192 | $187,896 | $312,402 | $538,600 |
Source: Ownwell
Property Tax Bills Across King Hill, Idaho
Property tax bills in King Hill, located in Elmore County, ID, are calculated based on the assessed value of the property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in King Hill, the median home price stands at $187,896. Property tax bills can vary significantly, with the 25th percentile tax bill at $276 and the 75th percentile reaching $1,394. For those at the 90th percentile, the tax bill can be as high as $2,247. Compared to the national median property tax rate of 0.99%, King Hill's property tax rate results in a median tax bill of $672, which is consistent across the zip code 83633. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average King Hill Tax Bill
$672
Average Elmore County Tax Bill
$1,251
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across King Hill, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83633 | $81 | $276 | $672 | $1,394 | $2,247 |
Source: Ownwell