How are my personal property taxes determined?

The market value of your property is one factor in setting the amount of tax you pay. However, the assessor does not determine tax amounts. The amount of taxes is determined by the budgets of the taxing districts in which your property is located. There are many kinds of taxing districts in Idaho. Some, like cities and counties, provide a wide range of services. Other districts levy taxes for specific purposes like highways, schools, or fire protection.

Each taxing district is administered by officials who determine how much money the district needs to provide services. After a district’s budget is set, the budget is divided by the total taxable value of all property within the taxing district to arrive at a tax rate. The tax rate is multiplied by the taxable value of your property, resulting in the amount of taxes you owe.

Each property is located within several independent taxing districts. This means your property tax bill includes taxes for all the districts in which your property is located. This combination of taxing districts is known as a "tax code area." Each of these areas is assigned a number that appears on your assessment notice and tax bill. Within each tax code area, the total tax rate is the same for all classes of property.

Show All Answers

1. What is transient personal property?
2. What personal property is assessed?
3. What personal property is tax exempt?
4. What is a lien date?
5. Who assesses personal property?
6. How does the county assessor know what to assess?
7. When must I report my personal property?
8. What if someone does not report personal property?
9. At What Value Is Personal Property Assessed?
10. What is market value?
11. How do I know what the assessed value of my personal property is?
12. What if I disagree with the assessed value of my personal property?
13. How are my personal property taxes determined?
14. When will I get my personal property tax bill?
15. What happens if my personal property taxes are not paid on time?
16. What happens if I close my business or sell it?