Dayton, Idaho Property Taxes
The median property tax rate in Dayton, Idaho is 0.36%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Dayton at $304,659, the typical annual property tax bill amounts to $1,153, which is well below the national median of $2,690. Property taxes in Dayton are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dayton'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 Dayton or another part of Franklin County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dayton, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,097
Ownwell’s Dayton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton 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 Dayton, Idaho
Property taxes in Dayton, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 0.36%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in the region is 0.72%, while the lowest median tax rate is 0.18%. Understanding how these cities compare with Dayton provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dayton Tax Rate
0.36%
Average Franklin County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83232 | 0.33% | 0.34% | 0.36% | 0.40% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Idaho
In Dayton, 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 Franklin 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 Dayton, 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 Dayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 83232, with a tax bill of $1153, which is also the lowest median tax bill in the area.
Average Dayton Assessed Value
$304,659
Average Franklin County Assessed Value
$317,415
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dayton, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83232 | $164,695 | $215,612 | $304,659 | $394,620 | $463,232 |
Source: Ownwell
Property Tax Bills Across Dayton, Idaho
In Dayton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Several factors influence the assessed value, including the size of the home, its location, and any improvements or renovations made. For homeowners in Dayton, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $797, while the 75th percentile tax bill is $1,447, and the 90th percentile tax bill reaches $1,830. These figures highlight the range of property tax obligations in the area. Compared to the national median property tax rate of 0.99%, Dayton's property tax bills reflect local economic conditions and property values. The highest median tax bill in the county is $1,153, indicating a relatively moderate tax burden. Homeowners should consider these factors when budgeting for annual expenses, as property taxes can significantly impact overall financial planning.
Average Dayton Tax Bill
$1,153
Average Franklin County Tax Bill
$1,363
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83232 | $609 | $797 | $1,153 | $1,447 | $1,830 |
Source: Ownwell