Gooding County, Idaho Property Taxes
The median property tax rate in Gooding County is 0.43%, which is significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Gooding County at $220,136, the typical annual property tax bill is $1,104, considerably less than the national median of $2,690. Property taxes in Gooding County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Gooding 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 Gooding or another part of Gooding County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gooding County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$947
$878
Ownwell’s Gooding Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gooding with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gooding 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 local informational page. Your property 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 Gooding County, Idaho
Property taxes in Gooding County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gooding County is 0.43%, which is lower than the U.S. national median of 0.99%. Local government entities within Gooding County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gooding 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. The following data compares Gooding County's effective property tax rate with the national median. For comparison, the city of Gooding has one of the higher property tax rates in Idaho at 0.49%. Analyzing how Gooding County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gooding County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Gooding County, Idaho
In Gooding 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 Gooding 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 Gooding 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. For instance, Buhl has the highest median tax bill at $1,225, while Bliss has the lowest at $905. Being aware of these valuation processes in Gooding County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Gooding County Assessed Value
$220,136
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gooding County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bliss | $5,000 | $58,237 | $175,933 | $316,183 | $486,348 |
| Buhl | $297,735 | $415,265 | $491,968 | $593,341 | $689,241 |
| Gooding | $81,568 | $156,352 | $214,298 | $296,370 | $389,855 |
| Hagerman | $45,177 | $163,550 | $248,540 | $358,478 | $498,857 |
| Jerome | $5,000 | $32,563 | $210,667 | $337,772 | $419,024 |
| Wendell | $12,499 | $114,407 | $217,370 | $291,091 | $376,606 |
Source: Ownwell
Property Tax Bills Across Gooding County, Idaho
In Gooding County, ID, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in the county is $220,136, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate, which can vary within the county. For homeowners in Gooding County, tax bills can range significantly. At the 25th percentile, the tax bill is around $774, while at the 75th percentile, it rises to approximately $1653. Those in the 90th percentile face tax bills as high as $2275. The city of Buhl has the highest median tax bill at $1225, whereas Bliss has the lowest at $905. These variations can impact homeowners' financial planning, as higher property taxes can increase the overall cost of homeownership, while lower taxes can make certain areas more attractive for potential buyers.
Average Gooding County Tax Bill
$1,104
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690