Newdale, Madison County, Idaho Property Taxes
The median property tax rate in Newdale, Idaho is 0.59%, which is lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With a median home value of $290,456 in Newdale, the typical annual property tax bill amounts to $1,501, below the national median of $2,690. Property taxes in Newdale are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Newdale'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 Newdale 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
Newdale, Madison County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$1,714
$1,590
Ownwell's Newdale Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Newdale. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Newdale to provide an accurate estimate of your property tax bill. This handy feature helps you gauge potential tax liabilities with ease. For those interested in more granular insights, you can scroll down to explore neighborhood-level trends. Your property's assessed value, determined by Madison County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Newdale, Madison County, Idaho
Property taxes in Newdale, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newdale is 0.59%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Newdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newdale 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 Newdale's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83436 has both the highest and lowest median property tax rate of 0.59%, underscoring the uniformity within this area. Understanding how these cities compare with Newdale provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newdale Tax Rate
0.59%
Average Madison County Tax Rate
0.54%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newdale, Madison County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83436 | 0.33% | 0.49% | 0.59% | 0.62% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Newdale, Madison County, Idaho
In Newdale, 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 Madison 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 Newdale, 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. For instance, the median home price in Newdale is $290,456, with tax bills ranging from $770 at the 25th percentile to $3,701 at the 90th percentile. Notably, the zip code 83436 has both the highest and lowest median tax bill at $1,501. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Newdale, Madison County, Idaho
Source: Ownwell
$264,650
$345,209
$425,768
Average Newdale Assessed Value
$290,456
Average Madison County Assessed Value
$317,091
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newdale, Madison County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83436 | $26,160 | $109,358 | $290,456 | $456,632 | $548,859 |
Source: Ownwell
Property Tax Bills Across Newdale, Madison County, Idaho
In Newdale, Madison County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the final tax bill. Factors such as property size, location, and market conditions play a significant role in the assessed value. For homeowners in Newdale, the median home price is $290,456, and the property tax rate is relatively low compared to the national median of 0.99%. Homeowners can expect their tax bills to vary widely. For example, those in the 25th percentile might pay around $770, while those in the 75th percentile could see tax bills as high as $2,383. At the 90th percentile, tax bills can reach up to $3,701. The highest and lowest median tax bills in the area both stand at $1,501, illustrating some consistency within the zip code 83436. These property taxes fund essential local services, impacting community infrastructure and public amenities.
Average Newdale Tax Bill
$1,501
Average Madison County Tax Bill
$1,903
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Newdale, Madison County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83436 | $194 | $770 | $1,501 | $2,383 | $3,701 |
Source: Ownwell