Example of Bonneville County Property Tax Calculation
Bonneville County calculates property taxes by multiplying the property's assessed value by the current tax rate. For example, if a property's assessed value is $100,000 and the current tax rate is 1%, the property owner would pay $1,000 in property taxes for the year. Additionally, homeowners may qualify for certain exemptions or deductions, such as a homestead exemption or a senior citizen discount, which can lower their overall property tax bill. It is important for property owners to stay informed about the current tax rates and any available exemptions to ensure they are paying the correct amount of taxes.
If you want appeal your property tax assessment - contact your local tax assessor.
Bonneville County Property Tax Rates
Here is the requested information regarding Bonneville County Property Tax rates:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| Residential Property | $0.811 |
| Agricultural Property | $0.791 |
| Commercial Property | $1.195 |
| Industrial Property | $1.288 |
It's important to note that these rates are specific to Bonneville County and may differ from other locations. It's recommended that individuals consult with a tax advisor to better understand their specific property tax situation.
Who sets property tax rates in Bonneville County ?
In Bonneville County, property tax rates are set by the County Commissioners. This typically occurs during the annual budgeting process, which takes place in the fall of each year. The County Commissioners are responsible for determining the tax rate that will be applied to each property within the county. The rate is calculated based on a variety of factors, including the assessed value of the property, the budget needs of the county, and any other relevant considerations. Property owners in Bonneville County can expect to receive their annual property tax bill in late fall or early winter, with payment due by the end of the year.
When is Bonneville County Property Tax due ?
Bonneville County Property Tax is typically due on December 20th each year. Here are some commonly used payment methods for Bonneville County Property Tax:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can pay their property tax online using the Bonneville County Treasurer's website. They can use a credit card, debit card or electronic check to make the payment. |
| Mail-In Payment | Property owners can also mail in their payment to the Bonneville County Treasurer's office. They can send a personal check or money order along with their property tax statement to the designated address. |
| In-Person Payment | Property owners can make their payment in person at the Bonneville County Treasurer's office. They can pay using cash, check, or money order. |
It is important to note that property owners who fail to pay their property taxes by the due date may be subjected to penalties and interest charges. Therefore, it is vital for property owners to pay their property taxes on time to avoid any financial consequences.
If you have more questions - contact your local tax collector.
Homestead exemptions in Bonneville County ?
Bonneville County in Idaho provides a range of Homestead exemptions and deductions to eligible taxpayers. The table below summarizes all the county-specific exemptions and deductions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Property Tax Reduction | Age 65 or older, blind or disabled | Varies based on income and property value | Application must be filed annually |
| Circuit Breaker Tax Credit | Age 65 or older, disabled, or widowed | Up to $1,320 | Household income must be below $31,820 |
| Military Exemption | Active duty military or eligible veteran | Up to $1,320 | Must provide proof of eligibility |
| Agricultural Land Deduction | Agricultural land owners | Varies based on land use | Application must be filed annually |
| Conservation Easement Deduction | Property owners who enter into a conservation easement | Varies based on land use | Must meet certain criteria |
It is important for taxpayers in Bonneville County to take advantage of these exemptions and deductions to reduce their property tax burden. To apply for these benefits, individuals must submit the necessary applications and meet the eligibility requirements. It is recommended that taxpayers consult with a tax professional or the county tax assessor's office for additional guidance.
How is Bonneville County Property Tax penalty calculated ?
Bonneville County Property Tax Penalty Calculation
When property taxes are not paid in full by the due date, a penalty is applied to the unpaid balance. The penalty is calculated based on the number of days late and the interest rate set by the state of Idaho.
Here's an example:
Let's say a property owner in Bonneville County owes $5,000 in property taxes for the year 2021. The due date for the payment is December 20, 2021. The property owner fails to pay the full amount by the due date and decides to pay on January 15, 2022. The penalty and interest calculation is as follows:
| Total amount due | $5,000 |
| Due date | December 20, 2021 |
| Date payment made | January 15, 2022 |
| Number of days late | 26 |
| Interest rate | 1% per month |
| Penalty calculation | $5,000 x 1% x 26/365 = $3.56 |
| Total amount due with penalty | $5,003.56 |
In this example, the property owner will owe a total of $5,003.56, which includes the original $5,000 amount due plus the penalty of $3.56.
It's important to note that if the property owner fails to pay the property taxes and penalty, the county can place a lien on the property and eventually sell it to recover the unpaid taxes.
In conclusion, property owners in Bonneville County should make sure to pay their property taxes by the due date to avoid penalties and potential liens on their property.
We recommend contacting the Bonneville County Tax Office or a local tax professional for the most up-to-date and accurate information.