Idaho Property Taxes
Overview of Idaho Property Taxes
If you own property in the state of Idaho, you are required to pay property taxes every year. Idaho property taxes are levied and collected by counties. The property taxes are used to fund local government services and independent local taxing districts like cities and schools. Each year, the state and its local governments collect $12 billion in total revenue. Of that, $1.7 billion or 14.32% of total revenue comes from property taxes.
Compared to other states, Idaho is generally a low-tax state. The average homeowner pays $7.63 for every $1,000 of home value in property taxes. The average Idaho property tax bill adds up to $1,505. However, that figure varies from county to county. For instance, homeowners in Ada County pay an average of $1,945 while those in Benewah County pay $882.
How do Idaho property taxes work? The taxes are based on your property's "full market value", or the amount the property would sell for in the open market. Each county has assessors who are responsible for assessing properties within their jurisdiction. The assessor physically visits about 20% of the properties. Values for the remaining 80% of properties are determined by comparing the sales prices of similar properties. Idaho state laws require that properties be assessed at 100% of their market value less any exemptions.
For instance, if your home has a market value of $200,000 and you qualify for an exemption worth $75,000, your property's assessed value would be ($200,000-$75,000) $125,000. Tax rates are applied to that amount to get your annual Idaho property tax bill.
Idaho property tax rates depend on the location of your property. The various local governments can levy tax rates at different levels. Tax rates are determined by dividing the budgetary requirement for a particular taxing district by the total taxable value of all property in the district. Generally, tax rates are higher within urban areas than the rural areas. The state allows taxing districts to increase their budget by up to three percent.
If you are planning to buy a home in Idaho and want to understand how much your property tax bill could potentially cost, check out our Idaho Property Tax Tool to see what your bill would be.
Idaho Property Tax Due Dates
The financial year in Idaho runs from January 1 to December 31. Assessment Notices are sent out to homeowners no later than the first Monday of June each year. The assessment Notice contains your property's assessment details. The value in the notice is used to calculate your Idaho property taxes.
The state allows you to appeal property taxes if you believe your property's valuation is higher than its market value. The appeal must be filed in the same month you receive your Assessment Notice. Appeals start with a visit to the County Assessor's office and speaking with your appraiser about your objections. If you disagree with the assessor, you can file a formal appeal with the Board of Equalization (BOE). The BOE's decisions can be appealed to the State Board of Tax Appeals or the District Court.
But when are property taxes due in Idaho? Idaho property taxes are due on December 20. If the date falls on a weekend/holiday, it is pushed to the next business day. The state of Idaho allows homeowners to pay property taxes in two equal installments. The first half must be paid on or before December 20th of the tax year. The second half must be paid no later than June 20 of the subsequent year.
What happens to homeowners who don't comply with Idaho property tax due dates? If the first half taxes are unpaid by the December 20 due date, it results in a late charge equal to 2% of the delinquent first half taxes. Additionally, interest is added at 1% per month beginning January 1. Similarly, if the second installment of Idaho property taxes is not paid by the June 20 due date, a 2% late charge is added. Delinquent second half taxes also result in interest computed at 1% per month from January 1st of that year.
Idaho Property Tax Exemptions
Besides offering the option to appeal property taxes if you disagree with your property's valuation, the state of Idaho also offers several exemptions to eligible homeowners. They include the senior and homestead exemptions. Qualifying homeowners can reduce their Idaho property tax bill. However, you are still required to comply with Idaho property tax due dates regardless of your eligibility.
Idaho Homestead Exemption
Idaho's homestead exemption is also known as the homeowner's exemption. This provision exempts $100,000 of your home value, or 50% of the home's value up to $100,000, whichever is less, from Idaho property taxes. You must be the legal owner of the property and occupy it as your principal residence to qualify. You only need to apply once as long as you continue owning and residing on the property.
Idaho Senior Citizens Exemption
Idaho's senior exemption falls under the state's Property Tax Reduction or "Circuit Breaker" program. Under this program, homeowners aged at least 65 years receive a reduction on Idaho property taxes for amounts of up to $1,320. Eligible homeowners must meet certain total household income limit requirements.
Other Idaho property tax exemptions include the Veterans Property Tax Reduction which reduces the amount of property taxes for qualifying homeowners for up to $1,320. The qualifying veteran's disabilities must be 100% service-connected. Additionally, the veteran must own and occupy the property as their principal residence as of April 15, 2021. This exemption doesn't have income limits.
How to Appeal Your Property Taxes in Idaho
You can appeal property taxes in Idaho if you have reasons and evidence showing the assessor overvalued your property. A successful appeal can lower your Idaho property taxes. The first step is contacting the local Assessor's Office where you speak with an appraiser. In this meeting, the appraiser explains how your property's value was determined. Many issues are typically solved at this level. However, if you still disagree with the assessor, you should file an appeal with the Board of Equalization (BOE) by the fourth Monday in June. The board listens to appeal hearings between the fourth Monday in June and the second Monday in July. If you disagree with the BOE's decision, you can appeal to either the State Board of Tax Appeals or The District Court within 30 days of receiving the BOE's decision.
The process of filing an assessment appeal varies across Idaho though it generally follows the same steps from county to county:
- Obtain your assessment
- Determine if you are overassessed
- Complete forms needed to appeal
- File property tax appeal
- Prepare for hearing
- Attend hearing
- Appeal the decision
How to Appeal Your Property Taxes in Idaho County
To help you understand how to appeal your property taxes in Idaho, the following is a breakdown of the process in Idaho County, the largest county in Idaho.
Obtain your assessment
Details about your property's assessment can be obtained from your Assessment Notice. You can also consult the Assessor's Office.
Determine if you are over-assessed
One of the methods used to value your property is the comparable sales of similar properties. TaxProper's search tool can help you search for units within your locality that have been recently sold. You can compare their selling price to the market value placed on your property.
Complete forms needed to appeal
The forms you need to appeal property taxes will be availed to you at the County Clerk's office.
File property tax appeal
Property tax appeals in Idaho County are filed with the Board of Equalization (BOE) by the fourth Monday in June.
Prepare for hearing
The assessor is presumed correct and the burden of proof lies with the homeowner. Preparation for an appeal hearing includes collecting and organizing compelling evidence supporting your opinion of value. This can include but is not limited to a map depicting the property's location, an appraiser's report, and comparable sales.
Attending a property tax appeal hearing before BOE is NOT mandatory. The Board gives you the option of a "Written Hearing" where the Board considers your appeal based on the documents/evidence attached in your application. However, you may still opt for an "Oral Hearing" where you can attend the hearing and testify.
Appeal the decision
You can appeal the BOE's decision to either the State Board of Tax Appeals or The District Court. The appeal must be filed within 30 days of receiving the BOE's decision.
Property Tax Information for Idaho Counties
The table below provides county-level information about how property taxes work in each Idaho county.
Want to learn more? Click the county links to learn more about a specific Idaho county.
|County||Average Home Value||Average Tax Bill||Bill per $1,000|
|Bear Lake County||$143,292||$872||$6.10|
|Nez Perce County||$196,136||$1,726||$8.80|
|Twin Falls County||$177,807||$1,357||$7.60|