Sugar City, Madison County, Idaho Property Taxes
The median property tax rate in Sugar City, Idaho is 0.36%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Sugar City at $303,294, the typical annual property tax bill reaches $1,240, significantly below the national median of $2,690. Property taxes in Sugar City 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 Sugar City'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 Sugar City or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sugar City, Madison County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,092
$1,013
Ownwell’s Sugar City Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Sugar City. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Sugar City to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities. For those interested in more granular details, scrolling down will reveal trends and localized information at the neighborhood level. Keep in mind, your property’s assessed value is determined by Madison County for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Sugar City, Madison County, Idaho
Property taxes in Sugar City, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar City is 0.61%, significantly lower than the U.S. national median of 0.99%. Local government entities within Sugar City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar City 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 Sugar City's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83616 zip code has the highest median property tax rate of 0.94%, while the 83252 zip code has the lowest median tax rate of 0.42%. Understanding how these cities compare with Sugar City 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 Sugar City Tax Rate
0.36%
Average Madison County Tax Rate
0.54%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sugar City, Madison County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83448 | 0.29% | 0.32% | 0.36% | 0.51% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Sugar City, Madison County, Idaho
In Sugar City, 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 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 Sugar City, 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 Sugar City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Sugar City, the median home price is $303,294. The zip code 83448 has the highest median tax bill at $1,240, which is the same as the lowest median tax bill. The 25th percentile tax bill is $903, the 75th percentile tax bill is $1,765, and the 90th percentile tax bill is $2,252.
Property Tax Assessment Values Across Sugar City, Madison County, Idaho
Source: Ownwell
$264,650
$345,209
$425,768
Average Sugar City Assessed Value
$303,294
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 Sugar City, Madison County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83448 | $16,319 | $208,974 | $303,294 | $391,509 | $464,437 |
Source: Ownwell
Property Tax Bills Across Sugar City, Madison County, Idaho
Property tax bills in Sugar City, located in Madison County, ID, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. For homeowners in Sugar City, the median home price stands at $303,294. The tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and any improvements or renovations can influence the assessed value. In Sugar City, property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $903, whereas those at the 75th percentile see bills closer to $1,765. For the highest bracket, the 90th percentile tax bill can reach up to $2,252. Compared to the national median property tax rate of 0.99%, Sugar City's property tax rates are relatively moderate, providing a balanced approach for homeowners. This system ensures that property taxes are proportionate to the value and condition of each home, impacting homeowners' annual financial planning.
Average Sugar City Tax Bill
$1,240
Average Madison County Tax Bill
$1,903
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar City, Madison County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83448 | $592 | $903 | $1,240 | $1,765 | $2,252 |
Source: Ownwell