2280 American Legion Blvd
Mountain Home, ID 83647
Mountain Home, ID 83647
The Elmore County Assessor’s Office is responsible for determining the assessed value of all properties in the county. Idaho law requires that all property be assessed at market value each year (Idaho Code § 63-205).
Market value is the estimated price a typical buyer would likely pay for a property as of January 1 of the current tax year.
To determine market value, the Assessor’s Office reviews sales of similar properties throughout the county and develops valuation guidelines based on those sales.
Several property characteristics are considered when determining value, including:
Property size
Construction quality
Age of the structure
Overall condition
Location
Recent sales of similar properties
An appraiser from the Assessor’s Office is required to physically inspect each property at least once every five years.
During the years between inspections, property values are estimated using:
Recent property sales data
Information gathered from inspections of similar properties
Idaho law and the Idaho State Tax Commission set strict rules for how property values are calculated. The Assessor must:
Establish market value as of January 1 of the current tax year
Use only valid property sales occurring between:
October 1, two years prior to the tax year, and
September 30, the year before the tax year
Adjust sales prices when necessary to reflect market conditions as of January 1
Use the previous year’s value as a starting point when determining new values
Property values may increase or decrease each year depending on changes in the real estate market and property conditions.
Once property values are finalized:
Assessment notices are mailed to property owners by the first Monday in June
The Idaho State Tax Commission reviews values to ensure they meet state standards
After approval, assessed values are provided to local taxing districts to help calculate property taxes