Malad City, Idaho Property Taxes
The median property tax rate in Malad City, ID is 0.65%, 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 Malad City at $198,006, the typical annual property tax bill comes to $1,265, well below the national median of $2,690. Property taxes in Malad City are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Malad City's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Malad City or another part of the region, getting to know the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malad City, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,287
Ownwell’s Malad City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malad City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malad City 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 Malad City, Idaho
Property taxes in Malad City, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malad City is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Malad City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malad City 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 Malad City's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83252 zip code has the highest median property tax rate of 0.65%, while the 83252 zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Malad City 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 Malad City Tax Rate
0.65%
Average Oneida County Tax Rate
0.65%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malad City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83252 | 0.44% | 0.50% | 0.65% | 0.78% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Malad City, Idaho
In Malad City, 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 Malad City, 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. The median home price in Malad City is $198,006, with tax bills ranging from the 25th percentile at $812 to the 90th percentile at $2,198. The highest and lowest median tax bills are both $1,265, found in the zip code 83252. By understanding 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 Malad City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Malad City Assessed Value
$198,006
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 Malad City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83252 | $52,154 | $134,499 | $198,006 | $261,944 | $353,316 |
Source: Ownwell
Property Tax Bills Across Malad City, Idaho
In Malad City, located in Oneida County, 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 market value. This assessed value is then multiplied by the property tax rate to determine the annual tax bill. For instance, with a median home price of $198,006, homeowners can expect their tax bills to vary. The 25th percentile tax bill is around $812, while the 75th percentile tax bill reaches $1,667. At the 90th percentile, the tax bill can go up to $2,198. These variations depend on the specific assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Malad City's property tax rates reflect a range that can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners budget more effectively and anticipate their financial obligations.
Average Malad City Tax Bill
$1,265
Average Oneida County Tax Bill
$1,237
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Malad City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83252 | $349 | $812 | $1,265 | $1,667 | $2,198 |
Source: Ownwell