Madison Library District Bond Calculator

This page allows you to calculate what the tax amount would be to your property if the approximately 3.9 million dollar bond to be presented in August passed. To use this calculator you will need to know the assessed valuation of your property (from the 2007 County Assessment notice - If you don't have it you can contact the Madison Assessor's Office at 359-6210). You will then choose whether the property is your primary residence or another property type by clicking the appropriate radio button.

It is important to select a property type because your primary residence and up to one acre of land qualifies for the Idaho Homeowners exemption while other property types do not receive this exemption. Visit the Idaho Tax Commission's web site to learn more about the exemption .

Here is how the calculator works. For a primary residence located on up to one acre, the property value is reduced by 50% of that value up to a maximum of $100,938 (the maximum deducation allowed for the year 2008). The resulting taxable value is then multiplied by the bond levy rate of .000324905 (this is a 20-year rate). The resulting number is what the bond would cost you per year. For other property types the calculation is the value multiplied by the same bond levy rate without the exemption being applied.