83246 Property Tax Rate

Property owners in ZIP code 83246 (Lava Hot Springs, Idaho) pay a median of $1,463/year in property taxes on homes valued at $359,000. This translates to an effective tax rate of 0.41%, which is 19% below the Idaho state average of 0.50%.

The monthly property tax burden for a median-valued home in 83246 is approximately $122, which factors into escrow payments on mortgages. This ZIP code is located within Bannock County.

Compared to similar ZIP codes in Idaho, 83246 has higher property taxes. ZIP codes with similar effective rates include 83451 (0.41%) and 83836 (0.41%).

In Lava Hot Springs, property taxes represent approximately 1.9% of the median household income of $77,679, 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.