Fairfield, Idaho Property Taxes
The median property tax rate in Fairfield, ID is 0.46%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Fairfield at $194,865, the typical annual property tax bill reaches $754, significantly below the national median of $2,690. Property taxes in Fairfield 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 Fairfield'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 Fairfield 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
Fairfield, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$896
Ownwell’s Fairfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Fairfield with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Fairfield to provide an accurate estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities, ensuring you are well-prepared for any financial obligations. For those interested in more detailed trends at the neighborhood level, additional localized information is available as you scroll down. Your property’s assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Fairfield, Idaho
Property taxes in Fairfield, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfield is 0.46%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Fairfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield 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 Fairfield's effective property tax rate to other areas in Idaho and the national median. For comparison, the highest median property tax rate in Camas County is also 0.46%, found in the zip code 83322, while the lowest median tax rate is similarly 0.46%, found in the zip code 83327. Understanding how these areas compare with Fairfield provides valuable insights into the varying tax landscape across Camas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairfield Tax Rate
0.46%
Average Camas County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfield, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83322 | 0.24% | 0.39% | 0.46% | 0.46% | 0.46% |
| 83327 | 0.22% | 0.29% | 0.46% | 0.47% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield, Idaho
In Fairfield, 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 Camas 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 Fairfield, 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. The median home price in Fairfield is $194,865, with tax bills ranging from $398 at the 25th percentile to $1,313 at the 75th percentile. The highest median tax bill is $755 in zip code 83327, while the lowest is $713 in zip code 83322. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairfield Assessed Value
$194,865
Average Camas County Assessed Value
$196,324
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairfield, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83322 | $69,874 | $95,786 | $153,752 | $240,282 | $429,858 |
| 83327 | $48,597 | $107,523 | $196,026 | $309,386 | $446,929 |
Source: Ownwell
Property Tax Bills Across Fairfield, Idaho
In Fairfield, Camas County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value typically reflects a percentage of the property's market value. Various factors such as location, property size, and improvements influence this valuation. Once the assessed value is established, the local tax rate is applied to compute the tax bill. For example, Fairfield homeowners experience a range of property tax bills. The 25th percentile tax bill is around $398, while the 75th percentile reaches $1,313. At the higher end, the 90th percentile tax bill can be as much as $1,902. Comparatively, the highest median tax bill in the area is $755 in the 83327 zip code, while the lowest is $713 in the 83322 zip code. These property taxes fund essential local services such as schools, infrastructure, and public safety, making them a crucial aspect of community development. Homeowners need to consider these costs as part of their overall financial planning.
Average Fairfield Tax Bill
$754
Average Camas County Tax Bill
$754
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfield, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83322 | $267 | $429 | $713 | $978 | $1,342 |
| 83327 | $177 | $398 | $755 | $1,320 | $1,904 |
Source: Ownwell