Idaho Falls, Jefferson County, Idaho Property Taxes
The median property tax rate in Idaho Falls, ID is 0.38%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Idaho Falls at $400,882, the typical annual property tax bill amounts to $1,588, well below the national median of $2,690. Property taxes in Idaho Falls 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 Idaho Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Idaho Falls 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
Idaho Falls, Jefferson County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$1,523
$1,414
Ownwell's Idaho Falls Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Idaho Falls with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Idaho Falls to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by Jefferson County for property tax purposes, including any applicable exemptions.
Property Tax Rates Across Idaho Falls, Jefferson County, Idaho
Property taxes in Idaho Falls, ID, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Idaho Falls is 0.69%, higher than both the Idaho state median of 0.63% and the U.S. national median of 0.99%. Local government entities within Idaho Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Idaho Falls 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 Idaho Falls' effective property tax rate to other counties in Idaho and the national median. For comparison, the 83401 zip code has the highest median property tax rate of 0.79%, while the 83402 zip code has the lowest median tax rate of 0.63%. Understanding how these cities compare with Idaho Falls provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Idaho Falls Tax Rate
0.38%
Average Jefferson County Tax Rate
0.39%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Idaho Falls, Jefferson County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83401 | 0.34% | 0.36% | 0.39% | 0.41% | 0.52% |
| 83402 | 0.34% | 0.36% | 0.38% | 0.41% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Idaho Falls, Jefferson County, Idaho
In Idaho Falls, 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 Jefferson County Assessor 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 Idaho Falls, 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. For instance, the highest median tax bill in the region is $2,166 in the 83401 zip code, while the lowest median tax bill is $1,498 in the 83402 zip code. 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 Idaho Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Idaho Falls, Jefferson County, Idaho
Source: Ownwell
$159,962
$353,468
$546,974
Average Idaho Falls Assessed Value
$400,882
Average Jefferson County Assessed Value
$327,168
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Idaho Falls, Jefferson County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83401 | $183,846 | $319,889 | $546,974 | $625,979 | $843,214 |
| 83402 | $314,989 | $358,034 | $385,379 | $456,269 | $568,753 |
Source: Ownwell
Property Tax Bills Across Idaho Falls, Jefferson County, Idaho
In Idaho Falls, Jefferson County, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the property. For homeowners in Idaho Falls, the median home price is $400,882. Property tax bills vary significantly, with the 25th percentile bill at $1,278, the 75th percentile at $2,176, and the 90th percentile reaching $2,557. The highest median tax bill, found in zip code 83401, is $2,166, while the lowest median tax bill in zip code 83402 is $1,498. These tax bills can have a substantial impact on homeowners, influencing their overall housing costs and potentially affecting their ability to afford other expenses. Compared to the national median property tax rate of 0.99%, Idaho Falls' property tax rates offer a competitive advantage, making it an attractive location for homeownership.
Average Idaho Falls Tax Bill
$1,588
Average Jefferson County Tax Bill
$1,302
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Idaho Falls, Jefferson County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83401 | $689 | $1,099 | $2,166 | $2,427 | $3,614 |
| 83402 | $911 | $1,280 | $1,498 | $1,996 | $2,290 |
Source: Ownwell