Kimberly, Idaho Property Taxes
The median property tax rate in Kimberly, ID is 0.49%, which is notably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Kimberly at $386,348, the typical annual property tax bill amounts to $2,187, falling below the national median of $2,690. Property taxes in Kimberly are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kimberly'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 Kimberly or another part of Twin Falls County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kimberly, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,893
Ownwell’s Kimberly Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Kimberly with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kimberly to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Kimberly, Idaho
Property taxes in Kimberly, Idaho (Twin Falls County), are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kimberly is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Kimberly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kimberly 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 Kimberly's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83341 zip code has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Kimberly provides valuable insights into the varying tax landscape across Twin Falls County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kimberly Tax Rate
0.49%
Average Twin Falls County Tax Rate
0.51%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kimberly, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83341 | 0.38% | 0.43% | 0.49% | 0.61% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Kimberly, Idaho
In Kimberly, 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 Twin Falls 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 Kimberly, 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. Being aware of these valuation processes in Kimberly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills in Kimberly is 83341, both at $2187.
Average Kimberly Assessed Value
$386,348
Average Twin Falls County Assessed Value
$313,924
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kimberly, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83341 | $175,784 | $267,821 | $386,348 | $512,557 | $709,630 |
Source: Ownwell
Property Tax Bills Across Kimberly, Idaho
In Kimberly, located in Twin Falls County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate. For homeowners in Kimberly, the tax bills vary significantly. For instance, the 25th percentile tax bill is around $1,431, whereas the 75th percentile reaches $3,043, and the 90th percentile can go up to $4,007. The median home price in Kimberly stands at $386,348, which influences the overall property tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Kimberly experience a range of tax burdens depending on their property's assessed value. These variations can significantly impact homeowners' annual expenses, making it crucial for them to understand how their property is assessed and what tax rate applies. Accurate assessments and awareness of the local tax rate are essential for homeowners to budget effectively and anticipate their annual tax obligations.
Average Kimberly Tax Bill
$2,187
Average Twin Falls County Tax Bill
$1,816
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Kimberly, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83341 | $937 | $1,431 | $2,187 | $3,043 | $4,007 |
Source: Ownwell