Paul, Idaho Property Taxes
The median property tax rate in Paul, Idaho is 0.56%, slightly higher than the state median of 0.50% but below the national median of 0.99%. With a median home value of $201,968, the typical annual property tax bill in Paul amounts to $1,161, which is significantly lower than the national median of $2,690. Property taxes in Paul are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Paul's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in the heart of Paul or elsewhere in the city, a thorough understanding of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Paul, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,131
$1,050
Ownwell’s Paul Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paul with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paul 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 Paul, Idaho
Property taxes in Paul, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paul is 0.56%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Paul set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paul 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 Paul's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83347 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with Paul provides valuable insights into the varying tax landscape across Jerome County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paul Tax Rate
0.56%
Average Jerome County Tax Rate
0.79%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paul, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | 0.40% | 0.53% | 0.56% | 0.87% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Paul, Idaho
In Paul, Idaho, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Jerome 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. Assessment notices in Paul 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 Paul 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 is 83347, with a tax bill of $1161, while the lowest is also 83347, with the same amount.
Average Paul Assessed Value
$201,968
Average Jerome County Assessed Value
$180,486
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paul, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | $104,543 | $150,538 | $201,968 | $251,332 | $301,402 |
Source: Ownwell
Property Tax Bills Across Paul, Idaho
In Paul, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the tax rate set by local taxing authorities. For instance, with a median home price of $201,968, homeowners in Paul can expect their tax bills to vary significantly. The 25th percentile tax bill is around $725, while the 75th percentile tax bill reaches $1,672, and the 90th percentile tax bill goes up to $1,934. Several factors influence the final tax bill, including the home's location within Jerome County, any applicable exemptions, and the specific tax rate for the area. These tax bills directly impact homeowners by affecting their annual expenses and potentially influencing their decisions regarding property investments. Compared to the national median property tax rate of 0.99%, Paul's tax rates and bills provide a useful benchmark for understanding local property tax trends.
Average Paul Tax Bill
$1,161
Average Jerome County Tax Bill
$1,457
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Paul, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | $544 | $725 | $1,161 | $1,672 | $1,934 |
Source: Ownwell