Genesee, Idaho Property Taxes
The median property tax rate in Genesee, Idaho is 0.80%, which is lower than the national median of 0.99% but significantly higher than the Idaho state median of 0.50%. With a median home value of $321,965 in Genesee, the typical annual property tax bill amounts to $2,688, just below the national median of $2,690. Property taxes in Genesee are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Genesee'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 Genesee or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Genesee, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,576
Ownwell’s Genesee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Genesee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Genesee 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 Genesee, Idaho
Property taxes in Genesee, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Genesee is 0.80%, lower than the U.S. national median of 0.99%. Local government entities within Genesee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Genesee 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 Genesee's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83832 zip code has the highest median property tax rate of 0.80%, while it also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Genesee provides valuable insights into the varying tax landscape across Nez Perce County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Genesee Tax Rate
0.80%
Average Nez Perce County Tax Rate
0.81%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Genesee, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83832 | 0.64% | 0.71% | 0.80% | 1.09% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Genesee, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Genesee, Idaho. 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 Nez Perce 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 Genesee, 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 Genesee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both occur in zip code 83832, with a value of $2688.
Average Genesee Assessed Value
$321,965
Average Nez Perce County Assessed Value
$302,737
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Genesee, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83832 | $143,359 | $202,041 | $321,965 | $448,327 | $547,019 |
Source: Ownwell
Property Tax Bills Across Genesee, Idaho
In Genesee, Nez Perce County, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For instance, with a median home price of $321,965, the tax bill can vary significantly. Factors such as property size, location, and improvements can influence the assessed value. The tax bill is then calculated by applying the local tax rate to the assessed value. Homeowners in Genesee can expect their tax bills to range widely. At the 25th percentile, tax bills are around $1,764, while at the 75th percentile, they can reach $3,718. For those at the 90th percentile, tax bills can go as high as $4,750. Compared to the national median property tax rate of 0.99%, Genesee's property tax rates may seem more favorable, but the actual amount paid can still vary based on individual property assessments and local levies. This variability affects homeowners by influencing their annual financial planning and budgeting.
Average Genesee Tax Bill
$2,688
Average Nez Perce County Tax Bill
$2,415
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Genesee, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83832 | $1,344 | $1,764 | $2,688 | $3,718 | $4,750 |
Source: Ownwell