Tetonia, Idaho Property Taxes
The median property tax rate in Tetonia, ID is 0.36%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Tetonia at $660,794, the typical annual property tax bill is $2,189, which is below the national median of $2,690. Property taxes in Tetonia are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tetonia'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 Tetonia 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
Tetonia, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$2,379
$2,208
Ownwell’s Tetonia Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tetonia with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Tetonia to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed insights, scrolling down reveals trends and localized information at the neighborhood level. Your property’s assessed value, determined by Teton County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Tetonia, Idaho
Property taxes in Tetonia, Idaho, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tetonia 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 Tetonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tetonia 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. Understanding how Tetonia's effective property tax rate compares to other areas in Teton County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tetonia 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 Tetonia, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83424 | 0.31% | 0.35% | 0.36% | 0.38% | 0.39% |
| 83452 | 0.26% | 0.28% | 0.36% | 0.38% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Tetonia, Idaho
In Tetonia, 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 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 Tetonia, 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 Tetonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,197 in zip code 83452, while the lowest is $1,254 in zip code 83424.
Average Tetonia Assessed Value
$660,794
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 Tetonia, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83424 | $236,099 | $287,384 | $344,611 | $640,373 | $936,756 |
| 83452 | $44,526 | $388,552 | $665,000 | $978,559 | $1,455,964 |
Source: Ownwell
Property Tax Bills Across Tetonia, Idaho
In Tetonia, Teton County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically reflects a percentage of the property's market value. Homeowners in Tetonia can expect property taxes to vary significantly, influenced by factors such as local tax rates and the assessed value of their property. For instance, the median home price in Tetonia is $660,794. Depending on the assessed value, homeowners might see tax bills ranging from $1,285 at the 25th percentile to $3,167 at the 75th percentile, with the 90th percentile reaching up to $5,059. The highest median tax bill in the area is $2,197 in the 83452 zip code, while the lowest is $1,254 in the 83424 zip code. These variations can significantly impact a homeowner's annual financial obligations, making it crucial to understand how property taxes are calculated and what factors influence them.
Average Tetonia Tax Bill
$2,189
Average Teton County Tax Bill
$2,496
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Tetonia, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83424 | $795 | $979 | $1,254 | $2,236 | $3,189 |
| 83452 | $286 | $1,311 | $2,197 | $3,172 | $5,066 |
Source: Ownwell