Leadore, Idaho Property Taxes
The median property tax rate in Leadore, ID is 0.34%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Leadore at $145,912, the typical annual property tax bill amounts to $426, well below the national median of $2,690. Property taxes in Leadore 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 Leadore'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 Leadore or another part of Lemhi County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leadore, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$496
$460
Ownwell’s Leadore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leadore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leadore 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 Leadore, Idaho
Property taxes in Leadore, Idaho, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Leadore is 0.34%, which is significantly lower than both the Lemhi County median and the U.S. national median of 0.99%. Local government entities within Leadore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leadore 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. Understanding how Leadore's effective property tax rate compares with the national median provides valuable insights into the varying tax landscape across Lemhi County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leadore Tax Rate
0.34%
Average Lemhi County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leadore, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83464 | 0.19% | 0.26% | 0.34% | 0.56% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Leadore, Idaho
In Leadore, 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 Lemhi 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 Leadore, 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 Leadore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 83464, with a median tax bill of $426.
Average Leadore Assessed Value
$145,912
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 Leadore, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83464 | $13,450 | $37,637 | $145,912 | $267,808 | $471,461 |
Source: Ownwell
Property Tax Bills Across Leadore, Idaho
In Leadore, located in Lemhi County, ID, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the county's tax rate to calculate the annual tax bill. Several factors influence this calculation, including property size, location, and any improvements made to the property. For example, the median home price in Leadore is $145,912, and property tax bills can vary significantly within the area. Homeowners in the 25th percentile might see tax bills around $201, while those in the 75th percentile could pay up to $845. At the 90th percentile, tax bills can reach $1,394. The highest and lowest median tax bill in the area is $426, both in the zip code 83464. This variability means that homeowners must be mindful of how changes to their property or local tax rates can impact their annual expenses.
Average Leadore Tax Bill
$426
Average Lemhi County Tax Bill
$733
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Leadore, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83464 | $58 | $201 | $426 | $845 | $1,394 |
Source: Ownwell