Letha, Gem County, Idaho Property Taxes
The median property tax rate in Letha, ID is 0.26%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Letha at $194,829, the typical annual property tax bill is $487, well below the national median of $2,690. Property taxes in Letha are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Letha'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 Letha or another part of Gem County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Letha, Gem County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.26%
Estimate Property Tax Bill
$507
$470
Ownwell’s Letha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Letha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Letha 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 Gem County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Letha, Gem County, Idaho
Property taxes in Letha, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Letha is 0.26%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Letha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Letha 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 Letha'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 significantly higher than Letha's rate, while the lowest median tax rate is also higher than Letha's. Understanding how these cities compare with Letha 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 Letha Tax Rate
0.26%
Average Gem County Tax Rate
0.28%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Letha, Gem County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83636 | 0.15% | 0.22% | 0.26% | 0.34% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Letha, Gem County, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Letha, Idaho. 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 Letha, 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 Letha helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $194,829, with the lowest and highest median tax bills both being $487 in zip code 83636.
Property Tax Assessment Values Across Letha, Gem County, Idaho
Source: Ownwell
$194,829
$388,870
$582,910
Average Letha Assessed Value
$194,829
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 Letha, Gem County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83636 | $31,217 | $74,278 | $194,829 | $294,750 | $460,699 |
Source: Ownwell
Property Tax Bills Across Letha, Gem County, Idaho
In Letha, 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 value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Letha stands at $194,829, which serves as a benchmark for understanding local tax obligations. For instance, homeowners at the 25th percentile of tax bills pay around $236 annually, while those at the 75th percentile pay approximately $765. At the higher end, the 90th percentile sees tax bills reaching up to $1,498. Several factors influence these variations, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Letha’s property tax rates offer a relatively affordable option for homeowners. The consistency in the highest and lowest median tax bills, both recorded at $487 in zip code 83636, further illustrates the region's balanced approach to property taxation. This system ensures that homeowners contribute fairly to local services while maintaining manageable tax burdens.
Average Letha Tax Bill
$487
Average Gem County Tax Bill
$1,205
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Letha, Gem County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83636 | $132 | $236 | $487 | $765 | $1,498 |
Source: Ownwell