Culdesac, Idaho Property Taxes
The median property tax rate in Culdesac, Idaho is 0.73%, which is lower than the national median of 0.99% but higher than Idaho's state median of 0.50%. With the median home value in Culdesac at $274,416, the typical annual property tax bill amounts to $2,275, which is below the national median of $2,690. Property taxes in Culdesac are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Culdesac'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 Culdesac 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
Culdesac, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$2,003
$1,859
Ownwell’s CULDESAC Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CULDESAC with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CULDESAC 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 Culdesac, Idaho
Property taxes in Culdesac, Idaho, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Culdesac is 0.73%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Culdesac set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culdesac 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 Culdesac's effective property tax rate to other areas within Idaho and the national median. For comparison, the zip code 83524 has both the highest and lowest median property tax rate of 0.73%, highlighting a uniformity in tax rates within the region. Understanding how these rates compare with Culdesac provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culdesac Tax Rate
0.73%
Average Lewis County Tax Rate
0.83%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culdesac, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83524 | 0.67% | 0.69% | 0.73% | 1.10% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Culdesac, Idaho
In Culdesac, 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 Lewis 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 Culdesac, 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 Culdesac helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area both stand at $2,275 in zip code 83524.
Average Culdesac Assessed Value
$274,416
Average Lewis County Assessed Value
$168,051
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culdesac, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83524 | $123,365 | $186,445 | $274,416 | $331,169 | $413,383 |
Source: Ownwell
Property Tax Bills Across Culdesac, Idaho
In Culdesac, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value, reflecting the estimated price a property would sell for in the current market. To determine the tax bill, the assessed value is multiplied by the local tax rate set by various taxing authorities like school districts, municipalities, and other local entities. Homeowners in Culdesac can expect their property tax bills to vary significantly depending on the value of their homes. For instance, the tax bill at the 25th percentile is around $1,459, while at the 75th percentile, it rises to $2,931. The 90th percentile tax bill can go up to $3,435. These figures indicate that higher-valued homes will naturally incur higher property tax bills. Compared to the national median property tax rate of 0.99%, the rates in Culdesac reflect the region's specific economic conditions and public service funding needs. This system ensures that homeowners contribute fairly to local services and infrastructure based on their property's value.
Average Culdesac Tax Bill
$2,275
Average Lewis County Tax Bill
$1,222
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Culdesac, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83524 | $1,150 | $1,459 | $2,275 | $2,931 | $3,435 |
Source: Ownwell