Assessor FAQ

Buyers and sellers in the real estate market establish value. The Assessor’s staff researches the sales data collected from real estate purchases in the year preceding an assessment notice and uses it to estimate the value of similar properties.

Idaho Code requires that assessments must be at fair market value each year. If the value of property goes up in the real estate market, the assessments must be increased so they mirror the increase in the market, even though the property may not have been improved.

Assessed values and property taxes do not necessarily increase by the same percent.  Taxes are a product of the budget requirements in all taxing districts.

Your house will only be compared to houses that are similar in quality to yours and that are in similar condition.  The land your house sits on is assessed separate from the structures and land values can go up depending on the market at a different rate than structures.

Idaho has a unique safety net for people who face catastrophic events that might prevent them from being able to pay their property taxes. It’s called the Hardship Exemption. If you qualify, your property taxes could be set aside for the year. The forms are available at the Treasurer’s office.  There are also other exemptions and programs that could reduce your taxes.  Information on all programs are available at the Assessor’s office.

All taxable property must be assessed at 100% of current market value less statutory exemptions (such as Homeowner, Agriculture or Timber exemptions).  The Assessor must estimate the most probable selling price of properties as of January 1st of that year.  To do this, the Assessor considers construction costs, the income from income producing properties and sales data.  Some of the features that influence sales price are size, location, age, quality of construction and overall condition. See Idaho Code 63-205

The assessed value of your property is not the only factor in determining your property tax liability. Your assessment could stay exactly the same and your tax bill could still increase. This is because taxes are budget driven, not assessment driven. The assessed values are a means of distribution of the tax burden.

Structures do depreciate with age, however, the market appreciation usually overrides the physical depreciation.

The law does not limit the amount a property assessment can change. The taxing district’s budgets are limited to a 3% increase over the previous year. The taxing districts that are in your area are listed on your assessment notice with their phone number and budget hearing dates.

Things that can affect the value of your property are a remodel, an addition to the home or adding other structures such as a garage or storage building. The market is a primary driving factor. The Assessor’s office follows the market by studying sales and applying that information to determine the most probable selling price.

Buyers and sellers in the real estate market establish value. The Assessor’s staff researches the sales data collected from real estate purchases in the year preceding an assessment notice and uses it to estimate the value of similar properties.

Idaho Code requires that assessments must be at fair market value each year. If the value of property goes up in the real estate market, the assessments must be increased so they mirror the increase in the market, even though the property may not have been improved.

Assessed values and property taxes do not necessarily increase by the same percent.  Taxes are a product of the budget requirements in all taxing districts.

Your house will only be compared to houses that are similar in quality to yours and that are in similar condition.  The land your house sits on is assessed separate from the structures and land values can go up depending on the market at a different rate than structures.

Idaho has a unique safety net for people who face catastrophic events that might prevent them from being able to pay their property taxes. It’s called the Hardship Exemption. If you qualify, your property taxes could be set aside for the year. The forms are available at the Treasurer’s office.  There are also other exemptions and programs that could reduce your taxes.  Information on all programs are available at the Assessor’s office.