Gooding, Gooding County, Idaho Property Taxes
The median property tax rate in Gooding, ID is 0.49%, 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 at $214,298, the typical annual property tax bill is $1,158, well below the national median of $2,690. Property taxes in Gooding are calculated based on the assessed value, which often falls below market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Gooding's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gooding or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gooding, Gooding County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,050
$974
Ownwell’s Gooding Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gooding with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gooding 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 Gooding, Gooding County, Idaho
Property taxes in Gooding, Idaho, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gooding is 0.49%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Gooding set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gooding 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 Gooding's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83330 has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Gooding provides valuable insights into the varying tax landscape across Gooding County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gooding Tax Rate
0.49%
Average Gooding County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gooding, Gooding County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83330 | 0.30% | 0.37% | 0.49% | 0.64% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Gooding, Gooding County, Idaho
In Gooding, 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 Gooding County Assessor's Office 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 Gooding, 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 Gooding helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gooding is $214,298, with the 25th percentile tax bill at $842 and the 75th percentile tax bill at $1,776. The highest and lowest median tax bills both occur in the 83330 zip code, at $1,158.
Property Tax Assessment Values Across Gooding, Gooding County, Idaho
Source: Ownwell
$175,933
$333,951
$491,968
Average Gooding Assessed Value
$214,298
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, Gooding County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83330 | $81,568 | $156,352 | $214,298 | $296,370 | $389,855 |
Source: Ownwell
Property Tax Bills Across Gooding, Gooding County, Idaho
In Gooding, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessment office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements made to the property. For homeowners in Gooding, the median home price is $214,298, and property tax bills can vary significantly. The 25th percentile tax bill is $842, while the 75th percentile reaches $1,776, and the 90th percentile can be as high as $2,335. These figures highlight the variability in property taxes within the area. Compared to the national median property tax rate of 0.99%, Gooding’s tax rates can be relatively affordable or more burdensome depending on specific assessments. Understanding these factors is crucial for homeowners to anticipate their financial obligations and plan accordingly.
Average Gooding Tax Bill
$1,158
Average Gooding County Tax Bill
$1,104
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Gooding, Gooding County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83330 | $616 | $842 | $1,158 | $1,776 | $2,335 |
Source: Ownwell