Lenore, Idaho Property Taxes
The median property tax rate in Lenore, Idaho is 0.41%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Lenore, the typical annual property tax bill reaches $1,000, which is well below the national median of $2,690. Property taxes in Lenore are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lenore'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 Lenore or another part of Nez Perce County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lenore, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,013
Ownwell’s Lenore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lenore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenore 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 Lenore, Idaho
Property taxes in Lenore, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenore is 0.41%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Lenore set these rates annually, and they can vary across different neighborhoods. Each year, Lenore 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 Lenore's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83541 in Nez Perce County has the same median property tax rate of 0.41%. Understanding how these cities compare with Lenore 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 Lenore Tax Rate
0.41%
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 Lenore, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83541 | 0.33% | 0.35% | 0.41% | 0.57% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Lenore, Idaho
In Lenore, 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 Nez Perce 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 Lenore, 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 Lenore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83541 has both the highest and lowest median tax bills, each at $1000.
Average Lenore Assessed Value
$246,993
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 Lenore, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83541 | $33,471 | $95,184 | $246,993 | $372,872 | $453,884 |
Source: Ownwell
Property Tax Bills Across Lenore, Idaho
In Lenore, Nez Perce County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the total tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or abatements. For homeowners in Lenore, the median home price stands at $246,993. The property tax bills vary significantly, with the 25th percentile at $584 and the 75th percentile at $1,421, reflecting differences in property values and applicable exemptions. At the 90th percentile, homeowners can expect to pay around $1,856. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life and community development in Lenore. Compared to the national median property tax rate of 0.99%, Lenore's rates offer a unique perspective on local taxation and its effects on homeowners.
Average Lenore Tax Bill
$1,000
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 Lenore, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83541 | $230 | $584 | $1,000 | $1,421 | $1,856 |
Source: Ownwell