Downey, Bannock County, Idaho Property Taxes
Median Downey, ID effective property tax rate: 0.49%, significantly lower than the national median of 1.02%, but lower than the Idaho state median of 0.50%.
Median Downey, ID home value: $216,478
Median annual Downey, ID tax bill: $974, $1,426 lower than the national median property tax bill of $2,400.
How are property taxes in Bannock County calculated?
Property taxes in Downey, ID are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Downey’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Downey, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Downey, Bannock County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.49%
Estimate Property Tax Bill
$1,061
$984
Property Tax Rates Across Downey, Bannock County, Idaho
Local government entities set property tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Downey, located in Bannock County, Idaho, the effective property tax rate stands at 0.49%. This rate is noticeably lower than the national median property tax rate of 1.02%. Compared to other cities in Idaho, Downey shares the same median tax rate, indicating a uniformity in property tax rates within the region. The property tax bill in Downey is significantly more affordable than the national median property tax bill of $2,400. This makes Downey an attractive location for property owners looking to reduce their annual tax expenses. The lower tax rate can be an appealing factor for potential homeowners and investors considering real estate in the area.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Downey Tax Rate
0.49%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bannock County Tax Rate
0.67%
Median Effective Idaho Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Downey, Bannock County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83234 | 0.19% | 0.34% | 0.49% | 0.59% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Downey, Bannock County, Idaho
When examining property taxes in Downey, Idaho, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bannock County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Bannock County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Downey. For example, the median home price in Downey is $216,478, with tax bills ranging significantly across the county. Zip code 83234 has the highest median home price at $216,478.
Property Tax Assessment Values Across Downey, Bannock County, Idaho
Source: Ownwell
$79,230
$186,531
$293,832
Median Downey Market Value
$216,478
Median Bannock County Market Value
$263,380
Median Idaho Market Value
$374,698
Median United States Market Value
$235,294
Property Tax Assessment Values Across Downey, Bannock County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83234 | $73,874 | $159,470 | $216,478 | $305,024 | $411,390 |
Source: Ownwell
Property Tax Bills Across Downey, Bannock County, Idaho
Median Downey Tax Bill
$974
Median Bannock County Tax Bill
$1,810
Median Idaho Tax Bill
$1,894
Median United States Tax Bill
$2,400
Property Tax Bills Across Downey, Bannock County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83234 | $169 | $570 | $974 | $1,500 | $2,039 |
Source: Ownwell