Smelterville, Idaho Property Taxes
The median property tax rate in Smelterville, ID is 0.59%, which is lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With a median home value of $99,987 in Smelterville, the typical annual property tax bill amounts to $626, significantly below the national median of $2,690. Property taxes in Smelterville are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Smelterville'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 Smelterville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Smelterville, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$590
$547
Ownwell’s Smelterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smelterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smelterville 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 Smelterville, Idaho
Property taxes in Smelterville, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smelterville is 0.59%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Smelterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smelterville 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 Smelterville's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83868 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Smelterville provides valuable insights into the varying tax landscape across Shoshone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Smelterville Tax Rate
0.59%
Average Shoshone County Tax Rate
0.56%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smelterville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83868 | 0.35% | 0.40% | 0.59% | 0.88% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Smelterville, Idaho
In Smelterville, 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 Shoshone 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 Smelterville, 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 Smelterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Smelterville is $626, both found in the 83868 zip code. The median home price is $99,987, with tax bills ranging from $364 at the 25th percentile to $1,672 at the 90th percentile.
Average Smelterville Assessed Value
$99,987
Average Shoshone County Assessed Value
$166,384
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Smelterville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83868 | $15,210 | $43,950 | $99,987 | $159,114 | $215,612 |
Source: Ownwell
Property Tax Bills Across Smelterville, Idaho
In Smelterville, located in Shoshone County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Smelterville, the median home price stands at $99,987. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions. Homeowners at the 25th percentile can expect a tax bill of around $364, while those at the 75th percentile see bills closer to $1,060. The highest median tax bill in the area is $626, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Smelterville Tax Bill
$626
Average Shoshone County Tax Bill
$991
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Smelterville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83868 | $100 | $364 | $626 | $1,060 | $1,672 |
Source: Ownwell