Gem County, Idaho Property Taxes
The median property tax rate in Gem County is 0.28%, which is significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With the median home value in Gem County at $389,330, the typical annual property tax bill is around $1,205, far below the national median of $2,690. Property taxes in Gem County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as the primary residence and agricultural exemptions. Understanding Gem County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Emmett or another part of Gem County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gem County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$1,090
$1,012
Ownwell’s Gem County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gem County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gem County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more localized informational page. Your property’s assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Gem County, Idaho
Property taxes in Gem County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gem County is 0.28%, which is lower than the U.S. national median of 0.99%. Local government entities within Gem County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gem County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. Analyzing how Gem County's tax rates stack up against the national median can give homeowners a better understanding of the local tax landscape.
Average Gem County Tax Rate
0.28%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gem County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Caldwell | 0.16% | 0.24% | 0.27% | 0.30% | 0.34% |
| Eagle | 0.18% | 0.22% | 0.24% | 0.29% | 0.32% |
| Emmett | 0.16% | 0.23% | 0.28% | 0.42% | 0.61% |
| Horseshoe Bend | 0.14% | 0.23% | 0.25% | 0.27% | 0.31% |
| Letha | 0.15% | 0.22% | 0.26% | 0.34% | 0.47% |
| New Plymouth | N/A | N/A | N/A | N/A | N/A |
| Ola | 0.12% | 0.16% | 0.22% | 0.28% | 0.31% |
| Sweet | 0.11% | 0.19% | 0.23% | 0.27% | 0.30% |
Source: Ownwell
Property Tax Assessment Values Across Gem County, Idaho
In Gem County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Gem County Appraisal District. The assessed value, however, 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. Assessment notices in Gem County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Gem County's highest median tax bill is found in New Plymouth at $3,205, while Letha has the lowest median tax bill at $487. Being aware of these valuation processes in Gem County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Gem County Assessed Value
$389,330
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gem County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Caldwell | $116,985 | $300,504 | $487,530 | $730,081 | $962,800 |
| Eagle | $147,422 | $272,004 | $443,168 | $746,686 | $1,064,174 |
| Emmett | $153,269 | $264,240 | $389,710 | $542,301 | $746,523 |
| Horseshoe Bend | $334,741 | $445,095 | $582,910 | $746,814 | $812,662 |
| Letha | $31,217 | $74,278 | $194,829 | $294,750 | $460,699 |
| New Plymouth | N/A | N/A | N/A | N/A | N/A |
| Ola | $104,853 | $220,878 | $354,532 | $511,232 | $689,939 |
| Sweet | $93,999 | $256,001 | $427,679 | $618,000 | $765,972 |
Source: Ownwell
Property Tax Bills Across Gem County, Idaho
In Gem County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is a percentage of the market value of the property. Homeowners in Gem County can expect varying tax bills depending on several factors, including the property's location, size, and any applicable exemptions. For instance, the median home price in Gem County is $389,330. The tax bill can range significantly; at the 25th percentile, homeowners might pay around $756, while at the 75th percentile, the tax bill could be approximately $1,670. Those at the 90th percentile could see tax bills as high as $2,175. In comparison, the city of New Plymouth within the county has the highest median tax bill at $3,205, whereas Letha has the lowest at $487. These variations in property tax bills impact homeowners' financial planning and overall housing affordability. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly.
Average Gem County Tax Bill
$1,205
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Gem County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Caldwell | $269 | $730 | $1,271 | $1,996 | $2,636 |
| Eagle | $331 | $562 | $1,206 | $1,723 | $2,602 |
| Emmett | $255 | $787 | $1,227 | $1,679 | $2,178 |
| Horseshoe Bend | $305 | $993 | $1,377 | $1,860 | $2,236 |
| Letha | $132 | $236 | $487 | $765 | $1,498 |
| New Plymouth | N/A | N/A | N/A | N/A | N/A |
| Ola | $105 | $418 | $825 | $1,248 | $1,940 |
| Sweet | $112 | $488 | $999 | $1,502 | $1,995 |
Source: Ownwell