Burley, Idaho Property Taxes
The median property tax rate in Burley, ID is 0.53%, slightly higher than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Burley, the typical annual property tax bill reaches $1,471, which is below the national median of $2,690. Property taxes in Burley 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 Burley'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 Burley 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
Burley, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,351
$1,253
Ownwell’s Burley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Burley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burley to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, allowing for better financial planning. For those interested in more granular insights, you can explore trends on a neighborhood level by scrolling down. Your property’s assessed value is determined by Minidoka County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Burley, Idaho
Property taxes in Burley, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burley is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Burley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burley 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 Burley's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83318 zip code has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Burley provides valuable insights into the varying tax landscape across Minidoka County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burley Tax Rate
0.53%
Average Minidoka County Tax Rate
0.49%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83318 | 0.46% | 0.47% | 0.53% | 0.78% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Burley, Idaho
In Burley, 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 Minidoka 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 Burley, 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 Burley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Burley are both $1,471, found in the 83318 zip code.
Average Burley Assessed Value
$254,835
Average Minidoka County Assessed Value
$229,100
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83318 | $171,251 | $182,305 | $254,835 | $342,060 | $457,304 |
Source: Ownwell
Property Tax Bills Across Burley, Idaho
In Burley, Minidoka County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value. For example, with a median home price of $254,835, the assessed value is a crucial factor in determining the tax bill. The local tax rate is applied to the assessed value to calculate the tax bill. In Burley, the median property tax bill stands at $1,471, which is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Burley can expect their property tax bills to vary, with the 25th percentile tax bill at $875 and the 75th percentile at $2,234. At the higher end, the 90th percentile tax bill reaches $3,702. These tax bills directly impact homeowners' expenses, influencing their overall cost of living and financial planning. Understanding how these factors interplay helps homeowners anticipate and manage their annual property tax obligations.
Average Burley Tax Bill
$1,471
Average Minidoka County Tax Bill
$1,155
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Burley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83318 | $773 | $875 | $1,471 | $2,234 | $3,702 |
Source: Ownwell