Property Tax Calculation

Property Tax Calculation

Taxing authorities such as counties, cities, school districts, fire districts, etc. set operating budgets, which in turn determine tax rates. Taxpayers demand services and taxing authorities need revenue to provide these services. Each year during the summer months the taxing districts estimate the amount of revenue they will require. Public hearings are held to present the budget proposal and to hear public input. Upon completion of the hearings the district budget is amended if necessary, finalized and sent to the Elmore County Commissioners. The Commissioners review the budgets for verification of compliance with Idaho Code and then submit them to the State Tax Commission for certification.

Tax Rates

The County Assessor Estimates the total assessed value of all taxable property in the district. The County Auditor Calculates a tax rate by dividing the amount of tax (taken from the submitted budget request) to be raised by the total assessed value. This same process is repeated for each of the taxing districts, using the Budget request for that taxing district and the estimated value of property in the area receiving service by that taxing authority. Tax rates for each taxing district are calculated and available by the end of October for each tax year.

Code Areas

The geographical areas within Elmore County having a common group of taxing districts receiving revenue from property taxes are assigned a Code Area number. The tax rates for each of the individual districts within the code area are totaled. This total is the levy or tax rate which will be multiplied by the tax value (assessed value minus exemptions) to determine the amount of tax billed.