Property assessments are out. Here's how much home values went up in your area
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
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