Florida vs Idaho
Property Tax Comparison: Florida vs. Idaho
Introduction
Both Florida and Idaho levy property taxes that are used to fund local services such as schools, roads, and public safety. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ noticeably in effective tax rates, median home values, and median household incomes. This article presents the key figures side‑by‑side and identifies which state has the lower property‑tax burden.
Side‑by‑Side Comparison
| Metric | Florida | Idaho |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 0.53 % |
| Median home value | $325,000 | $376,000 |
| Median annual property tax | $2,555 | $2,006 |
| Property tax on a $250,000 home | $1,966 | $1,334 |
| Property tax on a $500,000 home | $3,931 | $2,667 |
| Median household income | $71,711 | $74,636 |
| Relevant internal pages | Florida property tax | Idaho property tax |
All figures are taken from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State Has the Lower Tax Burden?
Winner: Idaho
Reasoning
- The effective property‑tax rate in Idaho (0.53 %) is 0.25 percentage points lower than Florida’s rate of 0.79 %.
- This represents a 32.14 % relative reduction in the tax rate.
- For a home valued at $250,000, Idaho homeowners pay $632 less per year than their Florida counterparts.
- For a $500,000 home, the annual difference widens to $1,264 in favor of Idaho.
Based on the lower effective tax rate, Idaho delivers a smaller property‑tax liability for comparable property values.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of the Data |
|---|---|
| Current homeowners | Understanding the ongoing tax expense helps with budgeting and long‑term financial planning. |
| Prospective homebuyers | Lower tax rates can affect total cost of ownership when evaluating different markets. |
| Retirees and fixed‑income households | Property‑tax savings may be significant for those on limited incomes, especially when combined with the median household income figures. |
| Real‑estate investors | Tax rate differentials influence cash‑flow projections and return‑on‑investment calculations. |
| Policy analysts | The side‑by‑side data provide a concise reference for comparing state fiscal structures. |
The comparison is factual and does not prescribe a particular course of action; it simply highlights the quantitative differences in property‑tax burdens between the two states.
Summary
According to U.S. Census Bureau data, Idaho’s effective property‑tax rate of 0.53 % is lower than Florida’s 0.79 %, resulting in lower annual taxes for comparable home values. The median home value is higher in Idaho, while median household income is also slightly higher, which may offset the higher property price for some residents. Stakeholders such as homeowners, retirees, and prospective buyers can use this information to assess the relative cost of property ownership in each state.
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Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.