Hagerman, Idaho Property Taxes
The median property tax rate in Hagerman, ID 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 Hagerman at $248,540, the typical annual property tax bill reaches $1,072, well below the national median of $2,690. Property taxes in Hagerman 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 Hagerman'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 Hagerman 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
Hagerman, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$895
Ownwell’s Hagerman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hagerman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hagerman 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 Hagerman, Idaho
Property taxes in Hagerman, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hagerman is 0.36%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Hagerman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hagerman 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 Hagerman's effective property tax rate to other counties in Idaho and the national median. Understanding how these cities compare with Hagerman provides valuable insights into the varying tax landscape across Gooding County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hagerman Tax Rate
0.36%
Average Gooding County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hagerman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83332 | 0.25% | 0.30% | 0.36% | 0.51% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Hagerman, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hagerman, Idaho. 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 Gooding 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 Hagerman, 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. For instance, the median home price in Hagerman is $248,540. The tax bills vary, with the 25th percentile at $686 and the 75th percentile at $1,588. Notably, the highest and lowest median tax bills are both $1,072 in zip code 83332. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hagerman Assessed Value
$248,540
Average Gooding County Assessed Value
$220,136
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hagerman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83332 | $45,177 | $163,550 | $248,540 | $358,478 | $498,857 |
Source: Ownwell
Property Tax Bills Across Hagerman, Idaho
In Hagerman, Gooding County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, Hagerman's median home price stands at $248,540. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions. Homeowners in Hagerman can expect varying tax bills. The 25th percentile tax bill is $686, while the 75th percentile reaches $1,588, and the 90th percentile can be as high as $2,318. These figures illustrate the range of tax liabilities depending on property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Hagerman's tax rates can significantly impact homeowners' annual financial obligations. Understanding these factors helps homeowners better anticipate their property tax responsibilities and manage their budgets accordingly.
Average Hagerman Tax Bill
$1,072
Average Gooding County Tax Bill
$1,104
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Hagerman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83332 | $478 | $686 | $1,072 | $1,588 | $2,318 |
Source: Ownwell