Holbrook, Idaho Property Taxes
The median property tax rate in Holbrook, Idaho is 0.72%, which is lower than the national median of 0.99% but higher than Idaho's state median of 0.50%. With the median home value in Holbrook at $104,722, the typical annual property tax bill is around $777, significantly below the national median of $2,690. Property taxes in Holbrook are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Holbrook'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 Holbrook or another part of Oneida County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holbrook, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$754
Ownwell’s Holbrook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holbrook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holbrook 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 Holbrook, Idaho
Property taxes in Holbrook, Idaho, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Holbrook is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Holbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holbrook 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 Holbrook's effective property tax rate to other areas in Idaho and the national median. For comparison, the zip code 83243 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Holbrook provides valuable insights into the varying tax landscape across Oneida County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holbrook Tax Rate
0.72%
Average Oneida County Tax Rate
0.65%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holbrook, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83243 | 0.48% | 0.58% | 0.72% | 0.84% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Holbrook, Idaho
In Holbrook, 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 Oneida County Assessment Office 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 Holbrook, 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 Holbrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Holbrook is $104,722, with tax bills ranging from $598 at the 25th percentile to $1,502 at the 90th percentile.
Average Holbrook Assessed Value
$104,722
Average Oneida County Assessed Value
$194,076
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holbrook, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83243 | $47,330 | $75,835 | $104,722 | $158,553 | $273,358 |
Source: Ownwell
Property Tax Bills Across Holbrook, Idaho
In Holbrook, Oneida County, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the market value of your property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements. For instance, a median home price in Holbrook is $104,722. Homeowners in the 25th percentile pay around $598 annually, while those in the 75th percentile see bills of approximately $966. At the 90th percentile, tax bills can reach up to $1,502. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Holbrook's rates reflect the local economic conditions and public service needs, ensuring that homeowners contribute their fair share to the community.
Average Holbrook Tax Bill
$777
Average Oneida County Tax Bill
$1,237
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Holbrook, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83243 | $413 | $598 | $777 | $966 | $1,502 |
Source: Ownwell