Friday, May 03, 2013

How do property taxes affect my Investment Property in Boise Idaho?

Property taxes vary form state to state. In Idaho, property taxes are based on assessed property values and levy rates. Property assessed values change from year to year; property values are re-assessed every Jan. 1st.

There are two pieces of the puzzle in regards to property taxes in the Boise Idaho Real Estate market. Each county has a tax assessor and treasury dept. The tax assessor determines the property value; this is done on a yearly basis on Jan 1st. The treasurer determines the levy rate based on the county budget. We have two major counties that encompass most of the Boise valley, Ada and Canyon. Ada is comprised of Boise, Meridian  Eagle, Kuna and Star. The bulk of the population in our area lives in Ada County. Taxes in Ada County can vary from slightly less than 1% to 1.9% of assessed values. Assessed values in general are lower than current fair market values. If you want more info on assessed values, visit the Ada County Assessor Website. Taxes in Canyon County can vary from 2% to 2.5% of assessed values in investment properties.

It is important to know the history of assessed values and to project them forward to get an understanding of how this will affect future cash flow. Please call us at 208 939 9033 for any additional information.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

No comments:

Search This Blog

REC News Center