Example of Valley County Property Tax Calculation
Valley County property tax is calculated based on the assessed value of the property. The assessed value is determined by the Valley County Assessor's Office and is based on the market value of the property.
To calculate the property tax, the assessed value is multiplied by the tax rate. The tax rate for Valley County is currently 0.839%. For example, if the assessed value of a property is $100,000, the property tax would be $839 (100,000 x 0.839%).
It is important to note that there may be additional taxes, such as school district or city taxes, that are added to the Valley County property tax. These taxes vary depending on the location of the property and can be found on the property tax statement.
Overall, understanding how Valley County property tax is calculated is important for property owners to properly budget for their annual property tax payments.
If you want appeal your property tax assessment - contact your local tax assessor.
Valley County Property Tax Rates
Valley County Property Tax Rates Table:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $1.65 |
| County Road and Bridge | $0.20 |
| County School | $3.00 |
| City of McCall General | $2.35 |
| City of Donnelly General | $1.90 |
| City of Cascade General | $1.90 |
This table displays the current property tax rates for Valley County. The tax rates are expressed as the rate per $100 of assessed value. The County General tax rate is $1.65, while the County Road and Bridge tax rate is $0.20. The County School tax rate is $3.00. Additionally, there are separate tax rates for three cities. The City of McCall General tax rate is $2.35, the City of Donnelly General tax rate is $1.90, and the City of Cascade General tax rate is also $1.90.
Who sets property tax rates in Valley County ?
In Valley County, property tax rates are set by the County Board of Commissioners. This typically occurs annually during a public meeting where the commissioners review the county's budget and determine the tax rate necessary to meet financial obligations. The tax rate is calculated as a percentage of the assessed value of the property and is applied uniformly across all properties in the county. Property owners receive an annual tax bill based on the assessed value of their property and the current tax rate. It is important for property owners to stay informed about any changes in tax rates and attend public meetings to provide feedback on budget decisions that impact their tax liability.
| What? | Details |
|---|---|
| Who sets property tax rates? | The County Board of Commissioners |
| When are property tax rates set? | Annually during a public meeting where the county's budget is reviewed and tax rate is determined |
| How is the tax rate calculated? | As a percentage of the assessed value of the property |
| Is the tax rate applied uniformly? | Yes, it is applied uniformly across all properties in the county |
| How are property owners billed? | Annual tax bills are sent based on the assessed value of the property and the current tax rate |
| Why is it important to stay informed? | To understand any changes in tax rates and provide feedback on budget decisions that impact their tax liability |
Homestead exemptions in Valley County ?
Valley County Homestead Exemptions and Deductions
Below is a table of all county-specific Homestead exemptions and deductions in Valley County, Nebraska.
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | All homeowners | Up to $40,000 | Must be applied for annually and can only be applied to primary residences |
| Agricultural Land Exemption | Owners of agricultural land | Up to 75% of the value of the land | Must be applied for annually and can only be applied to land used for agricultural purposes |
| Military Exemption | Active duty or honorably discharged veterans | Up to $2,500 | Must provide proof of service |
| Disabled Veteran's Exemption | Honorably discharged veterans with a service-connected disability | Up to $100,000 | Must provide proof of service and disability |
| Widower Exemption | Surviving spouse of a deceased homeowner | Up to $6,000 | Must be applied for annually and can only be applied to the primary residence |
| Senior Citizen Exemption | Homeowners over the age of 65 | Up to $10,000 | Must be applied for annually and can only be applied to the primary residence |
Note: Some of these exemptions and deductions may have additional eligibility requirements or limitations. It is recommended that homeowners consult with the Valley County Assessor's Office for more information.
When is Valley County Property Tax due ?
Valley County Property Tax typically falls due on the last Monday of November each year. This payment date is set by Idaho state law.
There are several payment methods available to Valley County property owners:
| Payment Method | Details |
|---|---|
| In-person | Payments can be made in-person at the Valley County Treasurer's Office, located in Cascade. |
| Mail-in | Property owners can mail their payments to the Valley County Treasurer's Office at a designated mailing address. |
| Online | Online payments can be made through the Valley County Treasurer's website. |
| Automatic Payment | Property owners can sign up for automatic payment via ACH (automated clearing house) directly from their bank. |
It is important for property owners to note that if payment is not received by the due date, late fees may apply. Therefore, it is recommended to pay by the due date, or sign up for automatic payments to avoid any potential late fees.
If you have more questions - contact your local tax collector.
How is Valley County Property Tax penalty calculated ?
Valley County Property Tax Penalty Calculation
Valley County imposes a penalty on late property tax payments. The penalty amount is determined by specific factors and can vary from year to year.
Factors in Penalty Calculation
The penalty amount is calculated based on the following factors:
- Date of payment: The penalty increases with each passing month after the due date.
- Tax amount: The penalty is a percentage of the unpaid tax amount.
- Interest: Interest is applied to the unpaid amount, and the penalty is calculated based on the total amount owed including interest.
Penalty Rates
The penalty rate is determined by the Valley County Board of Supervisors and can vary from year to year. For example, in 2021, the penalty rate is 1.5% per month, and the interest rate is 14% per year.
Penalty Calculation Example
Suppose a property owner in Valley County owes $2,000 in property taxes for the year 2020. The due date for payment was December 31, 2020, but the owner paid on February 15, 2021.
The penalty calculation would be as follows:
- Two months late (January and February) = 3% penalty ((1.5% x 2) = 3)
- Interest for those two months = $47.13 ((14%/12) x $2,000 x 2 = $46.67, rounded up = $47.13)
- Total penalty and interest = $107.13 ($60 penalty + $47.13 interest)
Therefore, the property owner would owe $2,107.13 in total for late payment of property taxes.
It is important for property owners to pay their taxes on time to avoid penalties and interest charges. If you have any questions or concerns about Valley County property tax penalties or payments, contact the Valley County Treasurer's Office.
We recommend contacting the Valley County Tax Office or a local tax professional for the most up-to-date and accurate information.