Horseshoe Bend, Gem County, Idaho Property Taxes
The median property tax rate in Horseshoe Bend, ID is 0.25%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Horseshoe Bend at $582,910, the typical annual property tax bill reaches $1,377, well below the national median of $2,690. Property taxes in Horseshoe Bend 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 Horseshoe Bend'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 Horseshoe Bend 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
Horseshoe Bend, Gem County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$1,457
$1,352
Ownwell’s Horseshoe Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horseshoe Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horseshoe Bend 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 Horseshoe Bend, Gem County, Idaho
Property taxes in Horseshoe Bend, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Horseshoe Bend is 0.45%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Horseshoe Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horseshoe Bend 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 Horseshoe Bend's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is 0.8%, while the lowest median tax rate is 0.2%. Understanding how these cities compare with Horseshoe Bend provides valuable insights into the varying tax landscape across Gem County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Horseshoe Bend Tax Rate
0.25%
Average Gem County Tax Rate
0.28%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Horseshoe Bend, Gem County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83629 | 0.14% | 0.23% | 0.25% | 0.27% | 0.31% |
Source: Ownwell
Property Tax Assessment Values Across Horseshoe Bend, Gem County, Idaho
In Horseshoe Bend, 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 Gem 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 Horseshoe Bend, 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 Horseshoe Bend 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 in the area is 83629, with a median tax bill of $1,377.
Property Tax Assessment Values Across Horseshoe Bend, Gem County, Idaho
Source: Ownwell
$194,829
$388,870
$582,910
Average Horseshoe Bend Assessed Value
$582,910
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 Horseshoe Bend, Gem County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83629 | $334,741 | $445,095 | $582,910 | $746,814 | $812,662 |
Source: Ownwell
Property Tax Bills Across Horseshoe Bend, Gem County, Idaho
In Horseshoe Bend, located in Gem 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 property tax rate. Factors such as the home’s size, age, location, and market conditions are considered in determining its assessed value. Homeowners in Horseshoe Bend can expect a median property tax bill of around $1,377, which is notably lower than the national median property tax rate of 0.99%. For example, homes in the 25th percentile have tax bills around $993, while those in the 75th percentile see bills closer to $1,860. At the higher end, the 90th percentile faces tax bills up to $2,236. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these elements combine helps homeowners anticipate their annual property tax obligations.
Average Horseshoe Bend Tax Bill
$1,377
Average Gem County Tax Bill
$1,205
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Horseshoe Bend, Gem County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83629 | $305 | $993 | $1,377 | $1,860 | $2,236 |
Source: Ownwell