Felt, Idaho Property Taxes
The median property tax rate in Felt, ID is 0.36%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Felt at $477,555, the typical annual property tax bill reaches $1,444, significantly below the national median of $2,690. Property taxes in Felt 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 Felt'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 Felt 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
Felt, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,719
$1,595
Ownwell’s FELT Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in FELT with just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in FELT to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular trends, you can find localized information by scrolling down. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Felt, Idaho
Property taxes in Felt, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Felt is 0.36%, which is significantly lower than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Felt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Felt 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. For comparison, Teton County has the highest median property tax rate of 0.69%, while the lowest median tax rate within Idaho is 0.36%, which is the same as Felt. Understanding how these cities compare with Felt 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 Felt 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 Felt, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83424 | 0.25% | 0.28% | 0.36% | 0.40% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Felt, Idaho
In Felt, 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 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 Felt, 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. For example, the median home price in Felt is $477,555, with tax bills ranging from $537 at the 25th percentile to $3,174 at the 90th percentile. The highest and lowest median tax bills both stand at $1,444 in the zip code 83424. 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 Felt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Felt Assessed Value
$477,555
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 Felt, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83424 | $25,051 | $151,414 | $477,555 | $793,030 | $1,004,286 |
Source: Ownwell
Property Tax Bills Across Felt, Idaho
In Felt, located in Teton County, ID, property tax bills are determined by assessing the market value of a home. This assessed value is then multiplied by the local tax rate to calculate the final tax bill. For homeowners in Felt, the tax rate is a crucial factor influencing their annual property tax obligation. The median home price in Felt is $477,555, and tax bills can vary significantly. For instance, tax bills at the 25th percentile are around $537, while those at the 75th percentile reach up to $2,465. At the 90th percentile, homeowners might pay as much as $3,174. The highest and lowest median tax bills in the area are both reported at $1,444, indicating some consistency in tax assessments within specific zip codes. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Felt Tax Bill
$1,444
Average Teton County Tax Bill
$2,496
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Felt, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83424 | $306 | $537 | $1,444 | $2,465 | $3,174 |
Source: Ownwell