Preston, Franklin County, Idaho Property Taxes

Name: Property Tax Bills Across Preston, Franklin County, Idaho
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Preston, ID effective property tax rate: 0.44%, significantly lower than the national median of 1.02%, but lower than the Idaho state median of 0.50%.
Median Preston, ID home value: $322,820
Median annual Preston, ID tax bill: $1,427, $973 lower than the national median property tax bill of $2,400.

How are property taxes in Franklin County calculated?

Property taxes in Preston, ID are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Preston’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Preston, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Preston, Franklin County, Idaho Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.44%

Estimate Property Tax Bill

$1,420

$1,318

Ownwell’s Preston Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Preston with just two data points. By entering your property's estimated assessed value, our calculator applies Preston’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Franklin County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Franklin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Preston, Franklin County, Idaho

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Preston, located in Franklin County, Idaho, has an effective property tax rate of 0.44%, which is significantly lower than the national median property tax rate of 1.02%. This low tax rate can be an attractive feature for homeowners looking to minimize their annual tax expenses. Compared to other cities in Idaho, Preston’s property tax rate remains consistent, offering stability for property owners. The median property tax bill in Preston is also likely to be lower than the national median of $2400, providing further financial relief to residents. This makes Preston an appealing choice for those seeking affordability without compromising on quality of life.

Property Tax Rates Across Preston, Franklin County, Idaho

Source: Ownwell

0.36%

0.40%

0.44%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Preston Tax Rate

0.44%

Median Effective Franklin County Tax Rate

0.43%

Median Effective Idaho Tax Rate

0.50%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Preston, Franklin County, Idaho

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
83263	0.35%	0.37%	0.44%	0.51%	0.84%

Source: Ownwell

Property Tax Assessment Values Across Preston, Franklin County, Idaho

When examining property taxes in Preston, Idaho, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Franklin County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Franklin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Preston. For example, the median home price in Preston is $322,820, with tax bills ranging significantly across the county. Zip code 83263 has the highest median home price at $322,820.

Property Tax Assessment Values Across Preston, Franklin County, Idaho

Source: Ownwell

$290,393

$306,607

$322,820

Median Preston Market Value

$322,820

Median Franklin County Market Value

$317,415

Median Idaho Market Value

$374,698

Median United States Market Value

$235,294

Property Tax Assessment Values Across Preston, Franklin County, Idaho

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
83263	$167,767	$242,061	$322,820	$411,121	$512,926

Source: Ownwell

Property Tax Bills Across Preston, Franklin County, Idaho

In Preston, located in Franklin County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In this region, the median property tax bill is $1,427, notably lower than the national median of $2,400. This lower tax bill is beneficial for homeowners, as it reduces the overall cost of homeownership. The 25th percentile tax bill is $1,003, while the 75th percentile reaches $1,921, showing some variation based on property values and other factors. Homeowners can potentially save on their property tax bills by ensuring their property is accurately assessed and by applying for any applicable exemptions. Ownwell assists homeowners by providing expert property tax appeal services, helping to ensure that their property is fairly assessed. This can lead to significant savings, making homeownership more affordable in Preston and beyond.

Property Tax Bills Across Preston, Franklin County, Idaho

Source: Ownwell

$1,101

$1,328

$1,554

Median Preston Tax Bill

$1,427

Median Franklin County Tax Bill

$1,363

Median Idaho Tax Bill

$1,894

Median United States Tax Bill

$2,400

Property Tax Bills Across Preston, Franklin County, Idaho

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
83263	$691	$1,003	$1,427	$1,921	$2,463

Source: Ownwell