Lemhi County Property Taxes
The median property tax rate in Lemhi County is 0.34%, 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 Lemhi County at $240,870, the typical annual property tax bill reaches $733, considerably less than the national median of $2,690. Property taxes in Lemhi County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Lemhi County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Salmon or another part of Lemhi County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lemhi County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$819
$760
Ownwell’s Lemhi County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lemhi County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lemhi County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Lemhi County, Idaho
Property taxes in Lemhi County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lemhi County is 0.34%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Lemhi County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lemhi County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. Analyzing how Lemhi County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lemhi County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lemhi County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carmen | 0.19% | 0.21% | 0.23% | 0.35% | 0.40% |
| Challis | 0.18% | 0.19% | 0.20% | 0.24% | 0.29% |
| Ellis | 0.21% | 0.23% | 0.30% | 0.40% | 0.43% |
| Gibbonsville | 0.21% | 0.24% | 0.38% | 0.44% | 0.50% |
| Leadore | 0.19% | 0.26% | 0.34% | 0.56% | 0.83% |
| Lemhi | 0.20% | 0.29% | 0.32% | 0.36% | 0.57% |
| May | 0.25% | 0.33% | 0.39% | 0.43% | 0.60% |
| North Fork | 0.19% | 0.23% | 0.31% | 0.39% | 0.47% |
| Salmon | 0.19% | 0.23% | 0.34% | 0.58% | 0.80% |
| Shoup | 0.21% | 0.31% | 0.34% | 0.39% | 0.45% |
| Tendoy | 0.21% | 0.23% | 0.33% | 0.39% | 0.47% |
| Tryon | 0.21% | 0.21% | 0.21% | 0.21% | 0.21% |
Source: Ownwell
Property Tax Assessment Values Across Lemhi County, Idaho
In Lemhi County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Lemhi County Appraisal District. The assessed value, however, 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 Lemhi County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Lemhi County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Carmen has the highest median tax bill at $945, while Challis has the lowest at $247.
Average Lemhi County Assessed Value
$240,870
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lemhi County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carmen | $43,693 | $249,822 | $395,569 | $528,617 | $617,293 |
| Challis | $59,506 | $68,686 | $104,242 | $146,585 | $167,980 |
| Ellis | $26,788 | $38,948 | $204,084 | $336,648 | $403,453 |
| Gibbonsville | $65,231 | $129,310 | $220,549 | $393,469 | $538,813 |
| Leadore | $13,450 | $37,637 | $145,912 | $267,808 | $471,461 |
| Lemhi | $4,175 | $47,183 | $240,900 | $444,299 | $720,269 |
| May | $23,490 | $49,061 | $144,128 | $356,859 | $542,067 |
| North Fork | $53,285 | $154,190 | $308,810 | $454,855 | $646,611 |
| Salmon | $23,638 | $96,586 | $239,895 | $354,159 | $501,624 |
| Shoup | $49,071 | $100,776 | $188,528 | $323,042 | $496,367 |
| Tendoy | $23,000 | $171,039 | $334,097 | $479,385 | $621,559 |
| Tryon | $334,443 | $334,443 | $334,443 | $334,443 | $334,443 |
Source: Ownwell
Property Tax Bills Across Lemhi County, Idaho
In Lemhi County, ID, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Lemhi County experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $296, while the 75th percentile sees bills around $1202. At the higher end, the 90th percentile tax bill reaches $1742. The median home price in the county is $240,870, which gives a general idea of property values in the area. Comparatively, the highest median tax bill is $945 in Carmen, while the lowest is $247 in Challis. These property taxes can significantly impact homeowners' annual budgets, especially when compared to the national median property tax rate of 0.99%.
Average Lemhi County Tax Bill
$733
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Lemhi County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carmen | $167 | $574 | $945 | $1,299 | $1,640 |
| Challis | $138 | $202 | $247 | $287 | $341 |
| Ellis | $63 | $182 | $755 | $922 | $1,557 |
| Gibbonsville | $188 | $417 | $721 | $1,238 | $1,842 |
| Leadore | $58 | $201 | $426 | $845 | $1,394 |
| Lemhi | $13 | $199 | $656 | $1,220 | $2,296 |
| May | $140 | $227 | $542 | $1,289 | $1,722 |
| North Fork | $171 | $397 | $793 | $1,313 | $1,897 |
| Salmon | $104 | $297 | $746 | $1,202 | $1,750 |
| Shoup | $209 | $347 | $620 | $954 | $1,600 |
| Tendoy | $50 | $427 | $881 | $1,395 | $2,010 |
| Tryon | $713 | $713 | $713 | $713 | $713 |
Source: Ownwell