Idaho County is high on the list for getting the most bang for its tax dollars.

According to a recent SmartAsset study, Idaho County ranks number seven in the state for the county where tax dollars are being spent most efficiently. Nationally, it ranks number 383 and has an overall value index ranking of 85.60.

The number one ranked county in the state is Franklin, followed by Lincoln, Madison, Jefferson, Lemhi, Caribou, Idaho, Washington, Gem and Fremont.

Idaho County comes in at number two in the state with lowest property taxes, with only Lemhi County coming in above. Following Idaho are Clearwater, Valley, Blaine, Fremont, Bonner, Caribou, Valley and Ada counties. Idaho County’s property tax rate is 0.49 percent while Ada’s is 0.60 percent.

Taxes on real estate in Idaho are relatively low in comparison with the rest of the country. The typical homeowner in the Gem State pays $1,276 annually in property taxes, about $920 less than the national average.

Across the U.S., Windsor, Vermont, comes in number one for best use of its property tax with its 1.96 percent rate. This is followed by counties in Mississippi, Virginia, Minnesota, Alabama, Iowa, and Colorado. Three of the most efficient property tax users are in the state of Vermont. As a side note, Vermont has five of lowest counties for crime rate across the nation

One reason for the state’s relatively low property taxes is the homeowners’ exemption, which exempts half the value of owner-occupied primary residences from property tax up to a limit of $100,000.

Property taxes in Idaho are the primary source of funding for local services such as schools, parks, roads and law enforcement. You can pay taxes in two installments, the first due on Dec. 20 and the second due on June 20.

Taxes are based on the full market value of property, which is determined each year by an assessor in each county.

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