Castleford, Idaho Property Taxes
The median property tax rate in Castleford, Idaho is 0.48%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Castleford, the typical annual property tax bill reaches $1,167, significantly below the national median of $2,690. Property taxes in Castleford 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 Castleford'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 Castleford 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
Castleford, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$811
$752
Ownwell’s Castleford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castleford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castleford 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 Castleford, Idaho
Property taxes in Castleford, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castleford is 0.48%, which is lower than the U.S. national median of 0.99%. Local government entities within Castleford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castleford 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 Castleford's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83321 has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Castleford provides valuable insights into the varying tax landscape across Twin Falls County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castleford Tax Rate
0.48%
Average Twin Falls County Tax Rate
0.51%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castleford, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83321 | 0.31% | 0.33% | 0.48% | 0.70% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Castleford, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Castleford, 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 Twin Falls 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 Castleford, 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 instance, the median home price in Castleford is $168,872, with the 25th percentile tax bill at $487 and the 75th percentile tax bill at $2,386. Notably, the highest and lowest median tax bills both stand at $1,167 in the zip code 83321. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Castleford Assessed Value
$168,872
Average Twin Falls County Assessed Value
$313,924
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castleford, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83321 | $48,667 | $71,162 | $168,872 | $380,369 | $556,757 |
Source: Ownwell
Property Tax Bills Across Castleford, Idaho
In Castleford, Twin Falls County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Castleford is $168,872. Property taxes are influenced by several factors, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill is $487, while the 75th percentile tax bill is significantly higher at $2,386, demonstrating a wide range of tax burdens depending on property values and exemptions. The highest median tax bill in the area is $1,167, which is assessed in the zip code 83321. This variability affects homeowners differently, with those owning higher-valued properties or fewer exemptions facing steeper tax bills. Compared to the national median property tax rate of 0.99%, the tax burden in Castleford can vary considerably, impacting homeowners' financial planning and long-term investment in their properties.
Average Castleford Tax Bill
$1,167
Average Twin Falls County Tax Bill
$1,816
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Castleford, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83321 | $286 | $487 | $1,167 | $2,386 | $3,231 |
Source: Ownwell