Property assessments are out. Here's how much home values went up in your area
Property values have increased again in Ada County, but not as fast as in previous years.
In 2024, the median home value in Ada County increased by 5.3%, according to the Ada County Assessor's Office. That's just a smidgen more than the 5.03% increase in 2023, according to Chief Deputy Assessor Brad Smith.
'It's encouraging to see a more stable market after the erratic valuation swings of the past,' Smith said in an email.
The latest annual property assessments have been mailed to homeowners. The assessed value is what the office believes each property could have sold for in the real estate market.
The new median assessed value in Ada County is $480,000, up from about $455,000 last year.
Home values have certainly been erratic. Residential assessments skyrocketed in the early 2020s, when for multiple years the median assessed value for Ada County homes jumped by close to 30%. Then in 2023, most residents saw their assessments decrease.
Homeowners have until the fourth Monday in June to appeal their homes' assessed value. So far, after a historically low year in 2024, appeals and phone calls are up, according to the office.
Some homeowners may not see much change in their new assessments. Star has the lowest median assessed value jump in Ada County, an increase of 1.6%. Values jumped by over 7% in the 2024 assessments.
On the other hand, North Boise took the top spot this year with a 7% median increase. Northeast Boise followed close behind at 6.6%. That brings North Boise up to a median $668,000 and Northeast Boise to a whopping $729,000.
Times have changed in the last decade. In 2015, Northeast Boise homes were valued at less than half of that, right around $300,000.
Northeast Boise is not the highest-priced neighborhood in the county though. That distinction belongs to Eagle, at $803,000.The two lowest-valued neighborhoods are Garden City and West Boise, which both come in at under $398,000.
Commercial property values increased 1.3% this year, down from last year's growth of around 2.7%.
Property values and property taxes are not the same thing, the Assessor's Office stresses. Just because home values go up, residents don't automatically pay more in taxes. Tax increases also depend on how much money is needed to pay for local-government budgets.
Local governments are working now to develop their budgets for the fiscal year that begins Oct. 1. Only then are levy rates set and actual taxes on your home determined. Idahoans will receive property tax bills in November Payments are due in December.
Assessments are public record, and homeowners can look them up at https://adacounty.id.gov/assessor/.
Ada property assessments are out. See how homes in your neighborhood are affected
See where Canyon County homeowners' property values rose fastest in the new assessments
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 hours ago
- Yahoo
Property assessments are out. Here's how much home values went up in your area
Property values have increased again in Ada County, but not as fast as in previous years. In 2024, the median home value in Ada County increased by 5.3%, according to the Ada County Assessor's Office. That's just a smidgen more than the 5.03% increase in 2023, according to Chief Deputy Assessor Brad Smith. 'It's encouraging to see a more stable market after the erratic valuation swings of the past,' Smith said in an email. The latest annual property assessments have been mailed to homeowners. The assessed value is what the office believes each property could have sold for in the real estate market. The new median assessed value in Ada County is $480,000, up from about $455,000 last year. Home values have certainly been erratic. Residential assessments skyrocketed in the early 2020s, when for multiple years the median assessed value for Ada County homes jumped by close to 30%. Then in 2023, most residents saw their assessments decrease. Homeowners have until the fourth Monday in June to appeal their homes' assessed value. So far, after a historically low year in 2024, appeals and phone calls are up, according to the office. Some homeowners may not see much change in their new assessments. Star has the lowest median assessed value jump in Ada County, an increase of 1.6%. Values jumped by over 7% in the 2024 assessments. On the other hand, North Boise took the top spot this year with a 7% median increase. Northeast Boise followed close behind at 6.6%. That brings North Boise up to a median $668,000 and Northeast Boise to a whopping $729,000. Times have changed in the last decade. In 2015, Northeast Boise homes were valued at less than half of that, right around $300,000. Northeast Boise is not the highest-priced neighborhood in the county though. That distinction belongs to Eagle, at $803, two lowest-valued neighborhoods are Garden City and West Boise, which both come in at under $398,000. Commercial property values increased 1.3% this year, down from last year's growth of around 2.7%. Property values and property taxes are not the same thing, the Assessor's Office stresses. Just because home values go up, residents don't automatically pay more in taxes. Tax increases also depend on how much money is needed to pay for local-government budgets. Local governments are working now to develop their budgets for the fiscal year that begins Oct. 1. Only then are levy rates set and actual taxes on your home determined. Idahoans will receive property tax bills in November Payments are due in December. Assessments are public record, and homeowners can look them up at Ada property assessments are out. See how homes in your neighborhood are affected See where Canyon County homeowners' property values rose fastest in the new assessments
Yahoo
11 hours ago
- Yahoo
Congrats, Idaho! Portland is the only city worse than Boise for this, study says
Watching my teenage sons and their friends play an impromptu game of 'Kick the Condom' along a downtown Portland sidewalk this spring, I was reminded of a fact that few Idahoans can deny. Nothing terrifies Boise more than being compared to Rip City. Ever since NPR's 'Here & Now' wondered 'Is Boise the next Portland?' in 2017, we developed a phobia. OK, even before that. And not just about Portland's goofy hipsters, jaw-dropping homeless problem or, um, randomly scattered prophylactics. (The ones we booted were still sealed in wrappers, at least.) It's the scary housing situation — Idaho's elephant in the closet. Ours wears a construction hat and holds a jackhammer with his trunk. So when I came across a new article from LendingTree titled, 'Portland, Ore., Has Worst Housing Crisis Outlook — Here's Why,' I was mortified, yet unsurprised, to find Boise excoriated right next to its Oregon big brother on the list of really-not-good places. Portland is worst. Boise is second worst. LendingTree, an online lending marketplace, took a handful of metrics and boiled them down to what most Treasure Valley residents inherently know. We've got a big-city housing predicament with nary a glimmer of light at the end of the tunnel. Boise wages stink. Home prices are insane. And availability is flat-out cooked. 'The vacancy rates in Portland and Boise are less than half of those in many other big metros,' said Matt Schulz, chief consumer finance analyst for LendingTree. 'When that happens, prices rise, making things even more expensive. Unfortunately, this isn't likely to change in many of the most troubled metros because the data shows that insufficient building is being done.' However, Boise actually is an exception. 'That's not the case in Boise,' Schulz continued in a prepared statement, 'where new permits are among the highest in the nation, but it's the case in Portland, Bridgeport (Connecticut) and other metros with similar rankings. That doesn't bode well for the near future.' Portland's No. 1 spot on the Housing Crisis Wall of Shame mainly was due to the aforementioned scant available housing scenario and the wallet-melting prices. Portland has the fourth-lowest vacancy rate (4.76%) — and 13th-highest home value-to-income ratio (5.57). As the article explains, 'This means median home values are 5.57 times more than the median income; the higher the ratio, the higher the unaffordability. The median home value in Portland is $526,500, while the median household income is $94,573.' Boise's home-to-value income ratio is about the same — 5.25. What really jumps out is the city's increase in home value-to-income ratio — fourth-fastest in the nation. It skyrocketed 7.12% from 2022 to 2023. In other words, those low-paying jobs aren't keeping up with those high-priced houses. 'A widening gap,' LendingTree explains, 'speaks to growing unaffordability.' Boise also has the second-lowest vacancy rate (4.56%), according to LendingTree — even if Schulz thinks we should be encouraged by all the planned construction. Northwest and West metros essentially owned the top of the housing crisis list. After Portland and Boise, the next four worst cities were Bridgeport (the exception), Spokane, Salt Lake City and Denver. Want to know where to move? 'Southern metros account for all five with the best outlook,' LendingTree says. 'McAllen, Texas, leads, with the lowest home value-to-income ratio at just 2.37. The median home value is $124,000, while the median household income is $52,281.' Can you even buy a Garden City trailer for $124,000? Then again, who wants to live in Texas? (Apologies to my brother in Austin. I'd live there just for the breakfast tacos.) Before we end this diatribe by proclaiming in unison that 'Portland sucks!' I will admit this. My kids and their friends had a ball visiting Oregon. They checked out Portland State, Lewis & Clark College and other nearby universities. (I wanna go back to school and attend beautiful Oregon State!) They watched their parents down pints at McMenamins in downtown Portland. And they tolerated me loitering joyfully upstairs in the Rare Book Room at Powell's City of Books, the world's biggest independent bookstore. I definitely like a few things about Portland. But I love a lot about Boise. I just hope we all can afford to keep living here.
Yahoo
a day ago
- Yahoo
Confused by latest order? How to calculate if your Jackson County assessment is within limits
KANSAS CITY, Mo. — Jackson County assessments are showing up in homeowner's mailboxes. Some people may be surprised at the increase after a May order from the State Tax Commission. Some taxpayers may receive tax refunds in June: When payments could arrive That order capped increases in each assessment period at 15% and set 2022 as a starting point for this year's assessments after 2023 assessments were heavily contested. But determining your maximum 2025 assessment is a little bit more complicated than a single multiplication or division. Legislator Sean Smith and Preston Smith (no relation) have been helping homeowners with appeals since assessments skyrocketed in 2023. This week as they went out again they've been getting questions about what the latest State Tax Commission Order and 15% cap really means. 'People look at it and the first thing they see is, I thought it was only going to be a 15% increase and that was the perception. I've probably answered it online 100 times,' Preston Smith said. 'A lot of people are contacting me thinking they only do the 15 percent once, but you have to do it twice,' Legislator Sean Smith explained. To illustrate how it works with the latest rules using 2022 assessments as the starting point, consider a home with a $100,000 assessed value in 2022. To calculate the maximum assessed value in 2023 multiply $100,000 by 1.15 which is $115,000. But then you have to multiply by 115% again to determine the maximum value a home could be assessed at this year. In this example it would be $132,250. The two 15% increases end up yielding a maximum increase of 32.25% during the two assessment periods. 'I would really urge people to do the math themselves to check it, check and really verify,' Preston Smith said. To do that, however, you have to know your home's 2022 assessed value, which according to those who have received this year's assessments, isn't on this year's notices. You can find that historical information online at the Jackson County Parcel Viewer or Ascend Web. If your increase ends up beyond the allowances under the State order or if you simply don't agree with your value, you still can appeal. Appeals have to be filed by July 14. Download WDAF+ for Roku, Fire TV, Apple TV As for seniors, 40,000 are already enrolled in a new tax credit program freezing tax bills. The county says estimated savings are included on notices, but are subject to change. Both Sean and Preston Smith say they are pressing the Assessor's Office for complete assessment data in 2022, 2023 and 2025 to see how much home values increased, and how many of those increases equated to the maximum allowed if no new construction was done under the State Tax Commission Order without a physical inspection. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
