Shoup, Idaho Property Taxes
The median property tax rate in Shoup, Idaho 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 Shoup at $188,528, the typical annual property tax bill is $620, well below the national median of $2,690. Property taxes in Shoup are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Shoup'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 Shoup 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
Shoup, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$641
$595
Ownwell’s Shoup Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shoup with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shoup 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 Shoup, Idaho
Property taxes in Shoup, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shoup is 0.34%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Shoup set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shoup 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 Shoup's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is found in Ada County at 1.25%, while the lowest median tax rate is found in Lemhi County at 0.34%. Understanding how these cities compare with Shoup 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 Shoup 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 Shoup, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83469 | 0.21% | 0.31% | 0.34% | 0.39% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Shoup, Idaho
In Shoup, 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 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 Shoup, 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 Shoup helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shoup is $188,528, with tax bills ranging from $347 at the 25th percentile to $1,600 at the 90th percentile. The highest and lowest median tax bills are both recorded at $620 in the 83469 zip code.
Average Shoup Assessed Value
$188,528
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 Shoup, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83469 | $49,071 | $100,776 | $188,528 | $323,042 | $496,367 |
Source: Ownwell
Property Tax Bills Across Shoup, Idaho
Property tax bills in Shoup, located in Lemhi County, ID, are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the home's market value. For homeowners in Shoup, the median home price is $188,528. The tax rate is applied to this assessed value to determine the annual property tax bill. For example, homeowners in the 25th percentile can expect a tax bill around $347, while those in the 75th percentile might see a bill closer to $954. At the higher end, the 90th percentile tax bill can reach up to $1,600. The highest and lowest median tax bills in Shoup are both recorded at $620, indicating a consistent tax rate across the area. These property taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how these factors interplay helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Shoup Tax Bill
$620
Average Lemhi County Tax Bill
$733
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Shoup, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83469 | $209 | $347 | $620 | $954 | $1,600 |
Source: Ownwell