Paul, Idaho Property Taxes
The median property tax rate in Paul, Idaho is 0.49%, slightly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Paul at $495,430, the typical annual property tax bill reaches $2,721, which is close to the national median of $2,690. Property taxes in Paul 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 Paul'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 Paul 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
Paul, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$2,428
$2,253
Ownwell’s Paul Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paul with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paul 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 Paul, Idaho
Property taxes in Paul, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paul is 0.49%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Paul set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paul 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 Paul's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83347 zip code has the highest median property tax rate of 0.49%, while the same 83347 zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Paul provides valuable insights into the varying tax landscape across Lincoln, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paul Tax Rate
0.49%
Average Lincoln County Tax Rate
0.65%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paul, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | 0.44% | 0.46% | 0.49% | 0.55% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Paul, Idaho
In Paul, 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 Lincoln 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 Paul, 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. The median home price in Paul is $495,430, with property tax bills ranging from $1,957 at the 25th percentile to $5,417 at the 90th percentile. Notably, the zip code 83347 has the highest and lowest median tax bill at $2,721. 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 Paul helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Paul Assessed Value
$495,430
Average Lincoln County Assessed Value
$107,940
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paul, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | $133,203 | $386,215 | $495,430 | $884,015 | $1,163,822 |
Source: Ownwell
Property Tax Bills Across Paul, Idaho
In Paul, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence this calculation, including the market value of the property, any applicable exemptions, and the local tax rate set by the county. For homeowners in Paul, the median home price is $495,430. Property tax bills can vary significantly, with the 25th percentile paying around $1,957 annually, while those in the 75th percentile see bills closer to $3,971. The highest median tax bill in the county is $2,721, which is notably lower than the national median property tax rate of 0.99%. This discrepancy can make homeownership in Paul more affordable compared to other regions. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly, ensuring they are not caught off guard by unexpected tax bills.
Average Paul Tax Bill
$2,721
Average Lincoln County Tax Bill
$780
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Paul, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | $616 | $1,957 | $2,721 | $3,971 | $5,417 |
Source: Ownwell