Bingham County Property Tax Rates
Here is a formatted table listing Bingham County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Tax | $0.752 |
| School Tax | $3.585 |
| Highway Tax | $0.244 |
Bingham County imposes a County Tax of $0.752 per $100 of assessed value, a School Tax of $3.585 per $100 of assessed value, and a Highway Tax of $0.244 per $100 of assessed value. These rates are subject to change and may vary based on individual property assessments.
Example of Bingham County Property Tax Calculation
Bingham County calculates property tax based on the market value of the property. The tax rate is determined by the county's budget and any additional levies approved by voters.
To calculate the tax, the assessed value of the property is multiplied by the tax rate. For example, if a property has an assessed value of $100,000 and the tax rate is 1%, the property tax would be $1,000.
It is important to note that exemptions and deductions may apply, such as the homeowner's exemption for primary residences. These can lower the assessed value and reduce the property tax owed.
Overall, Bingham County's property tax calculation is based on the value of the property and the tax rate set by the county. Exemptions and deductions can also impact the final tax amount.
If you want appeal your property tax assessment - contact your local tax assessor.
When is Bingham County Property Tax due ?
Bingham County Property Tax typically has a deadline of December 20th each year. However, if that date falls on a weekend or holiday, the deadline is extended to the next business day. Here are the payment methods available:
| Payment Method | Details |
|---|---|
| In-person | Payments can be made in-person at the Bingham County Treasurer's Office in Blackfoot, Idaho. |
| Payments can be mailed to the Bingham County Treasurer's Office. | |
| Online | Payments can be made online at binghamcounty.org. |
It's important to note that payments made after the deadline may incur interest and penalties. Therefore, it's recommended to pay on time to avoid any extra fees.
If you have more questions - contact your local tax collector.
Who sets property tax rates in Bingham County ?
Who Sets Property Tax Rates in Bingham County?
In Bingham County, property tax rates are set by two entities: the county government and the local school district. The county government sets the tax rate for county services and operations, while the school district sets the tax rate for local education funding.
When are Property Tax Rates Set?
Property tax rates in Bingham County are set annually, typically in the fall. The county government and school district hold public hearings to discuss and vote on the proposed tax rates. Once the tax rates are approved, they are applied to individual properties based on their assessed values.
How are Property Tax Rates Calculated?
Property tax rates in Bingham County are calculated based on a combination of factors, including the tax levies set by the county government and school district, the assessed value of the property, and any exemptions or deductions for which the property owner may qualify. Property owners can contact the Bingham County Assessor's Office for more information on their specific property tax calculations.
Conclusion
In summary, property tax rates in Bingham County are set by both the county government and local school district on an annual basis. These rates are calculated based on various factors and are applied to individual properties based on their assessed values. Property owners can contact the Bingham County Assessor's Office for more information on their property tax calculations.
Homestead exemptions in Bingham County ?
To help Bingham County, Idaho residents maximize their tax savings, the following table lists all county-specific Homestead exemptions and deductions.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Disabled Veterans | Must have a service-related disability of at least 10% | Up to $1,000 | Applies to the assessed value of the veteran's primary residence. Must provide proof of eligibility. |
| Circuit Breaker | Must be at least 65 years old or disabled | Varies based on income and property value | Applies to the assessed value of the applicant's primary residence. Must provide proof of eligibility and income. |
| Homeowner's | Must be the primary resident of the property | Up to $100,000 for qualifying homeowners | Applies to the assessed value of the primary residence. Must be the homeowner's primary residence on January 1st of the tax year. |
| Property Tax | Must be the primary resident of the property | Varies based on income and property value | Applies to the assessed value of the primary residence. Must be the homeowner's primary residence on January 1st of the tax year. Must provide proof of eligibility and income. |
| School Tax | Must be the primary resident of the property | Varies based on income and property value | Applies to the assessed value of the primary residence. Must be the homeowner's primary residence on January 1st of the tax year. Must provide proof of eligibility and income. |
| Widow or Widower | Must be the primary resident of the property and widowed | Up to $150,000 for qualifying widows or widowers | Applies to the assessed value of the primary residence. Must be the primary residence of the widow or widower and they must have been married to their spouse at the time of their spouse's death. |
Please note that while every effort has been made to ensure the accuracy of the information provided, readers are advised to consult with a licensed tax professional or the Bingham County Assessor's Office for specific and up-to-date information regarding available exemptions and deductions.
How is Bingham County Property Tax penalty calculated ?
Bingham County Property Tax Penalty Calculation
In Bingham County, Idaho, property taxes are due on December 20th of each year. If the property owner fails to pay by the due date, penalties and interest will be added to the tax amount owed. The penalty is calculated based on the amount of taxes owed and the time period since the due date. Here's how it works:
- Penalties start at 2% of the unpaid taxes on December 21st
- On January 1st, a 2% penalty plus 1% interest is added
- On February 1st, a 2% penalty plus 2% interest is added
- On March 1st, a 2% penalty plus 3% interest is added
- On April 1st, a 2% penalty plus 4% interest is added
- If the taxes remain unpaid by May 1st, the property is subject to tax sale
Let's say a property owner owes $2,000 in property taxes in Bingham County and fails to pay by the due date of December 20th. Here's how the penalty would be calculated:
- December 21st - $40 penalty (2% of $2,000)
- January 1st - $60 penalty and interest (2% penalty plus 1% interest of $2,000 = $40 + $20)
- February 1st - $100 penalty and interest (2% penalty plus 2% interest of $2,000 = $40 + $60)
- March 1st - $160 penalty and interest (2% penalty plus 3% interest of $2,000 = $40 + $120)
- April 1st - $240 penalty and interest (2% penalty plus 4% interest of $2,000 = $40 + $200)
Therefore, if the property owner still hasn't paid by April 1st, their total tax owed including penalties and interest would be $2,240.
It's important to note that the penalty and interest rates for Bingham County may differ from other counties in Idaho or other states in the US. Property owners should always check with their local tax authority to understand their specific penalties and interest rates for late payment of property taxes.
We recommend contacting the Bingham County Tax Office or a local tax professional for the most up-to-date and accurate information.