For first-time and seasoned homeowners alike, Idaho property taxes can be confusing. For instance, what’s the difference between a home’s market value and assessed value – and which one is used to calculate property taxes? And why can two very similar houses in the same neighborhood have drastically different property taxes?
If you have a home mortgage, chances are your property tax payments are rolled into your mortgage payment each month. But it’s still helpful to know what you’re paying as a homeowner and why. Below, we break down how rates are set, how you can estimate your property tax rate, and how to appeal if you believe your property taxes are too high.
What Are Idaho Property Taxing Districts and Why Do They Matter?