Chester, Fremont County, Idaho Property Taxes
The median property tax rate in Chester, Idaho is 0.30%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With a median home value of $219,379 in Chester, the typical annual property tax bill amounts to $659, which is well below the national median of $2,690. Property taxes in Chester are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chester'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 Chester 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
Chester, Fremont County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$658
$611
Ownwell’s Chester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chester 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 Chester, Fremont County, Idaho
Property taxes in Chester, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chester is 0.30%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Chester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chester 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 Chester's effective property tax rate to other counties in Idaho and the national median. Understanding how these cities compare with Chester provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chester Tax Rate
0.30%
Average Fremont County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chester, Fremont County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83421 | 0.23% | 0.27% | 0.30% | 0.42% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Chester, Fremont County, Idaho
In Chester, 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 Fremont 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 Chester, 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 Chester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Chester is $659 in the 83421 zip code, which is the same as the lowest median tax bill, showcasing a uniform tax landscape.
Property Tax Assessment Values Across Chester, Fremont County, Idaho
Source: Ownwell
$195,659
$296,650
$397,640
Average Chester Assessed Value
$219,379
Average Fremont County Assessed Value
$277,698
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chester, Fremont County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83421 | $42,402 | $124,975 | $219,379 | $388,591 | $529,699 |
Source: Ownwell
Property Tax Bills Across Chester, Fremont County, Idaho
Property tax bills in Chester, located in Fremont County, Idaho, are calculated based on the assessed value of a property, 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 Chester, the median home price is $219,379. For homeowners, tax bills can vary significantly; the 25th percentile tax bill is $439, while the 75th percentile tax bill reaches $1,142. At the 90th percentile, homeowners may see tax bills as high as $1,746. These taxes fund essential local services such as public schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Chester’s property tax rates can be considered moderate, providing a balanced approach to funding community needs while not overly burdening homeowners. The highest and lowest median tax bills in Fremont County are both recorded at $659 in the zip code 83421, reflecting a relatively uniform tax rate across the region.
Average Chester Tax Bill
$659
Average Fremont County Tax Bill
$1,250
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Chester, Fremont County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83421 | $156 | $439 | $659 | $1,142 | $1,746 |
Source: Ownwell