Paul, Minidoka County, Idaho Property Taxes
The median property tax rate in Paul, Idaho is 0.48%, which is notably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Paul, the typical annual property tax bill amounts to $1,154, significantly below the national median of $2,690. Property taxes in Paul are calculated based on the tax assessed value, which is often less than 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 substantial annual savings. Whether you're in the heart of Paul or another part of Minidoka County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paul, Minidoka County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$1,203
$1,117
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, Minidoka County, Idaho
Property taxes in Paul, Idaho, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paul is 0.48%, significantly 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 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these areas compare with Paul 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 Paul Tax Rate
0.48%
Average Minidoka County Tax Rate
0.49%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paul, Minidoka County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | 0.31% | 0.36% | 0.48% | 0.58% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Paul, Minidoka County, 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 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 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. 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. The median home price in Paul is $250,698, with annual tax bills ranging from $766 at the 25th percentile to $2,431 at the 90th percentile. The highest and lowest median tax bills are both found in the 83347 zip code, at $1,154.
Property Tax Assessment Values Across Paul, Minidoka County, Idaho
Source: Ownwell
$222,558
$238,697
$254,835
Average Paul Assessed Value
$250,698
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 Paul, Minidoka County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | $57,156 | $154,650 | $250,698 | $350,530 | $487,397 |
Source: Ownwell
Property Tax Bills Across Paul, Minidoka County, Idaho
In Paul, located in Minidoka County, ID, property tax bills are determined by several key factors. The process begins with the assessed value of a property, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. The median home price in Paul is $250,698, and the tax rate is reflective of the county's standards. Homeowners in Paul can expect a wide range of tax bills. For instance, those in the 25th percentile typically see tax bills around $766, while those in the 75th percentile might pay approximately $1,776. At the higher end, the 90th percentile tax bills can reach up to $2,431. These variations are influenced by factors such as property location, size, and improvements. Compared to the national median property tax rate of 0.99%, Paul's rates are relatively moderate, making it an appealing location for homeowners. Understanding these factors can help residents anticipate their annual property tax obligations and plan their finances accordingly.
Average Paul Tax Bill
$1,154
Average Minidoka County Tax Bill
$1,155
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Paul, Minidoka County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83347 | $459 | $766 | $1,154 | $1,776 | $2,431 |
Source: Ownwell