83234 Property Tax Rate

Property owners in ZIP code 83234 (Downey, Idaho) pay a median of $1,208/year in property taxes on homes valued at $216,000. This translates to an effective tax rate of 0.56%, which is 12% above the Idaho state average of 0.50%.

The monthly property tax burden for a median-valued home in 83234 is approximately $101, which factors into escrow payments on mortgages. This ZIP code is located within Bannock County. This is $400 less than the Idaho average of $1,608/year.

Compared to similar ZIP codes in Idaho, 83234 has higher property taxes. ZIP codes with similar effective rates include 83644 (0.56%) and 83445 (0.56%).

In Downey, property taxes represent approximately 1.8% of the median household income of $66,154, providing context for the relative tax burden on homeowners in this area.

Idaho assesses property at market value at purchase with no statewide cap, and Bannock County's 0.75% rate means the median home generates $1,922 annually. Bannock County does not offer a state homestead exemption, but the county assessor should be contacted to confirm any local exemptions for owner-occupants or seniors — contact the Bannock County Assessor directly. File your homeowner claim and obtain a copy of your assessment notice from the Bannock County Assessor's office within 30 days of closing.