Driggs, Idaho Property Taxes
The median property tax rate in Driggs, ID is 0.36%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With the median home value in Driggs at $706,021, the typical annual property tax bill reaches $2,552, which is below the national median of $2,690. Property taxes in Driggs are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Driggs'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 Driggs or another part of Teton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Driggs, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$2,542
$2,359
Ownwell’s Driggs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Driggs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Driggs 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 Driggs, Idaho
Property taxes in Driggs, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Driggs is 0.36%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Driggs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Driggs 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 Driggs' effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is found in zip code 83414, with a rate of 0.78%, while the lowest median tax rate is in zip code 83455, at 0.35%. Understanding how these cities compare with Driggs provides valuable insights into the varying tax landscape across Teton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Driggs Tax Rate
0.36%
Average Teton County Tax Rate
0.36%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Driggs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83422 | 0.27% | 0.31% | 0.36% | 0.45% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Driggs, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Driggs, 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 Teton 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 Driggs, 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. For example, the highest median tax bill in Driggs is $2,552 in the 83422 zip code, which also happens to be the lowest. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Driggs Assessed Value
$706,021
Average Teton County Assessed Value
$706,618
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Driggs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83422 | $356,246 | $546,000 | $706,021 | $926,056 | $1,410,447 |
Source: Ownwell
Property Tax Bills Across Driggs, Idaho
In Driggs, located in Teton County, ID, 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 reflects the market value of the property. Homeowners in Driggs can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $1,929 and the 75th percentile reaching $3,484. The highest median tax bill recorded in the area is $2,552, which is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. These tax bills directly impact homeowners by influencing their annual financial obligations and potentially affecting property values over time. Understanding these factors can help homeowners better anticipate their annual expenses and explore potential savings through appeals or exemptions. The variability in tax bills highlights the importance of staying informed about local tax assessments and rates.
Average Driggs Tax Bill
$2,552
Average Teton County Tax Bill
$2,496
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Driggs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83422 | $1,338 | $1,929 | $2,552 | $3,484 | $4,804 |
Source: Ownwell