Moscow, Idaho Property Taxes
The median property tax rate in Moscow, ID is 0.70%, which is higher than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $412,484 in Moscow, the typical annual property tax bill reaches $3,054, surpassing the national median of $2,690. Property taxes in Moscow 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 Moscow'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 Moscow 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
Moscow, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$2,887
Ownwell’s Moscow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moscow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moscow 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 Moscow, Idaho
Property taxes in Moscow, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moscow is 0.70%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Moscow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moscow 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 Moscow's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83843 zip code has the highest median property tax rate of 0.70%, while the same 83843 zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Moscow provides valuable insights into the varying tax landscape across Latah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moscow Tax Rate
0.70%
Average Latah County Tax Rate
0.67%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moscow, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83843 | 0.54% | 0.62% | 0.70% | 0.82% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Moscow, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Moscow, 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 Latah 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 Moscow, 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 Moscow 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 83843, with a median tax bill of $3,054, which is above the national median property tax rate of 0.99%.
Average Moscow Assessed Value
$412,484
Average Latah County Assessed Value
$393,996
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moscow, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83843 | $190,337 | $327,138 | $412,484 | $512,301 | $628,065 |
Source: Ownwell
Property Tax Bills Across Moscow, Idaho
In Moscow, located in Latah County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the Latah County Assessor's Office. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. With a median home price of $412,484, homeowners in Moscow face varying tax bills. For instance, the 25th percentile tax bill is $2,226, while those in the 75th percentile pay around $4,034, and the 90th percentile reaches up to $4,995. These tax bills significantly impact homeowners, as they must budget for these annual expenses. The highest median tax bill in Moscow is $3,054, which is notably higher than the national median property tax rate of 0.99%. This means that homeowners in Moscow may pay more in property taxes compared to the national average, affecting their overall cost of living and financial planning.
Average Moscow Tax Bill
$3,054
Average Latah County Tax Bill
$2,676
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Moscow, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83843 | $1,133 | $2,226 | $3,054 | $4,034 | $4,995 |
Source: Ownwell