Fenn, Idaho Property Taxes
The median property tax rate in Fenn, Idaho is 0.36%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Fenn at $99,712, the typical annual property tax bill amounts to $360, well below the national median of $2,690. Property taxes in Fenn are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fenn's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fenn or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fenn, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$359
Ownwell’s Fenn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fenn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fenn to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fenn, Idaho
Property taxes in Fenn, Idaho County, Idaho, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Fenn is 0.36%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Fenn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fenn estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Fenn's effective property tax rate to other areas in Idaho County and the national median. For comparison, the highest median property tax rate within Idaho County is found in ZIP code 83549 at 0.45%, while the lowest median tax rate is in ZIP code 83540 at 0.30%. Understanding how these areas compare with Fenn provides valuable insights into the varying tax landscape across Idaho County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fenn Tax Rate
0.36%
Average Idaho County Tax Rate
0.27%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fenn, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83531 | 0.23% | 0.28% | 0.36% | 0.44% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Fenn, Idaho
In Fenn, Idaho, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Idaho County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Fenn, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Fenn is $99,712, with tax bills ranging from $346 at the 25th percentile to $466 at the 90th percentile. The zip code 83531 has both the highest and lowest median tax bill at $360. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fenn Assessed Value
$99,712
Average Idaho County Assessed Value
$208,696
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fenn, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83531 | $71,310 | $81,960 | $99,712 | $171,034 | $213,826 |
Source: Ownwell
Property Tax Bills Across Fenn, Idaho
In Fenn, Idaho, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value, reflecting the property's worth in the current real estate market. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Fenn, the median home price is $99,712. With a property tax rate that aligns with the national median of 0.99%, this results in varying tax bills across different percentiles. For instance, the 25th percentile tax bill is $346, while the 75th percentile tax bill is $426, and the 90th percentile tax bill reaches $466. The highest and lowest median tax bills recorded in the area are both $360, indicating a relatively stable tax environment. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Fenn Tax Bill
$360
Average Idaho County Tax Bill
$670
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Fenn, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83531 | $337 | $346 | $360 | $426 | $466 |
Source: Ownwell