Orofino, Idaho Property Taxes
The median property tax rate in Orofino, Idaho, is 0.91%, which is slightly below the national median of 0.99% but significantly higher than the Idaho state median of 0.50%. With a median home value of $119,782 in Orofino, the typical annual property tax bill is around $1,092, which is lower than the national median of $2,690. Property taxes in Orofino are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Orofino's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Orofino or another part of Lewis County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orofino, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,090
Ownwell’s Orofino Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orofino with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orofino 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 Orofino, Idaho
Property taxes in Orofino, Idaho, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orofino is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Orofino set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orofino 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 Orofino's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83544 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Orofino 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 Orofino Tax Rate
0.91%
Average Lewis County Tax Rate
0.83%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orofino, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83544 | 0.91% | 0.91% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Orofino, Idaho
In Orofino, 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 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 Orofino, 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 Orofino helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83544 has both the highest and lowest median tax bills, each at $1,092.
Average Orofino Assessed Value
$119,782
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 Orofino, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83544 | $119,782 | $119,782 | $119,782 | $119,782 | $119,782 |
Source: Ownwell
Property Tax Bills Across Orofino, Idaho
In Orofino, located in Lewis County, ID, property tax bills are a crucial aspect of homeownership. The tax bill is primarily determined by the assessed value of the property, which is a percentage of the market value. For example, if the median home price in Orofino is $119,782, the assessed value will be a portion of this amount. The property tax rate is then applied to this assessed value to calculate the tax bill. In Orofino, the median property tax bill is $1,092, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can also influence the assessed value and, consequently, the tax bill. Homeowners in Orofino should be aware that their property tax bills can affect their overall cost of living and budget planning. Understanding these factors can help homeowners anticipate their financial obligations and potentially seek appeals or exemptions to lower their tax burden.
Average Orofino Tax Bill
$1,092
Average Lewis County Tax Bill
$1,222
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Orofino, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83544 | $1,092 | $1,092 | $1,092 | $1,092 | $1,092 |
Source: Ownwell