Viola, Idaho Property Taxes
The median property tax rate in Viola, Idaho is 0.56%, slightly higher than both the national median of 0.99% and Idaho's state median of 0.50%. With the median home value in Viola, the typical annual property tax bill reaches $2,658, just below the national median of $2,690. Property taxes in Viola 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 Viola'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 Viola or another part of Latah County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Viola, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$2,742
$2,544
Ownwell’s Viola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Viola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Viola 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 Viola, Idaho
Property taxes in Viola, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Viola is 0.56%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Viola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Viola 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 Viola’s effective property tax rate to other counties in Idaho and the national median. For comparison, the 83872 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Viola 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 Viola Tax Rate
0.56%
Average Latah County Tax Rate
0.67%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Viola, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83872 | 0.39% | 0.49% | 0.56% | 0.61% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Viola, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Viola, 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 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. In Viola, 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 Viola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83872 has the highest and lowest median tax bill at $2,658.
Average Viola Assessed Value
$489,616
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 Viola, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83872 | $242,459 | $348,695 | $489,616 | $629,786 | $742,168 |
Source: Ownwell
Property Tax Bills Across Viola, Idaho
In Viola, located in Latah County, ID, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Viola stands at $489,616. Property tax bills in this area range significantly, with the 25th percentile at $1,790 and the 75th percentile at $3,697, reflecting the variability in property values and tax rates within the city. The highest median tax bill in the region is $2,658, found in the 83872 zip code. Several factors influence the final tax bill, including the home’s assessed value, local tax rates, and any applicable exemptions. These taxes fund essential public services like schools, infrastructure, and emergency services. For homeowners, higher property values typically result in higher tax bills, impacting their annual expenses. Compared to the national median property tax rate of 0.99%, Viola's tax rates can vary, affecting the overall financial burden on property owners.
Average Viola Tax Bill
$2,658
Average Latah County Tax Bill
$2,676
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Viola, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83872 | $896 | $1,790 | $2,658 | $3,697 | $4,700 |
Source: Ownwell