Lava Hot Springs, Bannock County, Idaho Property Taxes

Name: Property Tax Bills Across Lava Hot Springs, Bannock County, Idaho
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lava Hot Springs, ID effective property tax rate: 0.46%, significantly lower than the national median of 1.02%, but lower than the Idaho state median of 0.50%.
Median Lava Hot Springs, ID home value: $95,274
Median annual Lava Hot Springs, ID tax bill: $480, $1,920 lower than the national median property tax bill of $2,400.

How are property taxes in Bannock County calculated?

Property taxes in Lava Hot Springs, 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 Lava Hot Springs’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lava Hot Springs, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lava Hot Springs, Bannock County, Idaho Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.46%

Estimate Property Tax Bill

$438

$407

Ownwell’s Lava Hot Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lava Hot Springs with just two data points. By entering your property's estimated assessed value, our calculator applies Lava Hot Springs' median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Bannock County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lava Hot Springs, Bannock County, Idaho

Local government entities determine tax rates, leading to significant variations within a state. Each year, counties estimate their budget needs for essential services and divide that by the total value of all taxable property in their area, resulting in the property tax rate. This process, though influenced by votes and legislation, is the annual routine for setting tax rates and budgets. In Lava Hot Springs, located in Bannock County, property tax rates reflect this methodology. Comparing Lava Hot Springs’ effective property tax rate to other cities in Idaho, it becomes evident that local rates can differ significantly. Idaho's median property tax rate is notably lower than the national median of 1.02%, and Lava Hot Springs aligns with this trend. For homeowners in Idaho, this means potential savings compared to the national average property tax bill of $2,400. Understanding these differences can be crucial for property owners seeking to manage their tax liabilities effectively.

Property Tax Rates Across Lava Hot Springs, Bannock County, Idaho

Source: Ownwell

0.40%

0.57%

0.74%

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 Lava Hot Springs Tax Rate

0.46%

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 Lava Hot Springs, Bannock County, Idaho

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
83246	0.19%	0.33%	0.46%	0.57%	0.66%

Source: Ownwell

Property Tax Assessment Values Across Lava Hot Springs, Bannock County, Idaho

When examining property taxes in Lava Hot Springs, 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 Assessor's Office 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 Lava Hot Springs. For example, the median home price in Lava Hot Springs is $95,274, with tax bills ranging significantly across the county. Zip code 83246 has the highest median home price at $95,274.

Property Tax Assessment Values Across Lava Hot Springs, Bannock County, Idaho

Source: Ownwell

$79,230

$186,531

$293,832

Median Lava Hot Springs Market Value

$95,274

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 Lava Hot Springs, Bannock County, Idaho

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
83246	$46,000	$70,360	$95,274	$302,920	$447,277

Source: Ownwell

Property Tax Bills Across Lava Hot Springs, Bannock County, Idaho

In Lava Hot Springs, property tax bills are calculated based on the assessed value of a home, which is determined by the Bannock County assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. With a median home price of $95,274, homeowners in Lava Hot Springs face property tax bills that can vary significantly. The 25th percentile tax bill is $222, while the 75th percentile reaches $1,423, and the 90th percentile goes up to $2,250. Compared to the national median property tax bill of $2,400, many homeowners in the area may pay less, though some may pay more depending on their property’s assessed value. Ownwell can assist homeowners by offering professional property tax appeal services to ensure their property is fairly assessed, potentially lowering their tax bills and providing significant savings. This can be especially beneficial for those in higher tax brackets within the region.

Property Tax Bills Across Lava Hot Springs, Bannock County, Idaho

Source: Ownwell

$261

$1,158

$2,054

Median Lava Hot Springs Tax Bill

$480

Median Bannock County Tax Bill

$1,810

Median Idaho Tax Bill

$1,894

Median United States Tax Bill

$2,400

Property Tax Bills Across Lava Hot Springs, Bannock County, Idaho

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
83246	$135	$222	$480	$1,423	$2,250

Source: Ownwell