Ferdinand, Idaho Property Taxes
The median property tax rate in Ferdinand, Idaho is 0.33%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Ferdinand at $207,074, the typical annual property tax bill amounts to $702, which is well below the national median of $2,690. Property taxes in Ferdinand are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ferdinand'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 Ferdinand 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
Ferdinand, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$683
Ownwell’s Ferdinand Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferdinand with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferdinand 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 Ferdinand, Idaho
Property taxes in Ferdinand, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferdinand is 0.33%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Ferdinand set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferdinand 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. Understanding how Ferdinand's property tax rate compares with other regions 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 Ferdinand Tax Rate
0.33%
Average Idaho County Tax Rate
0.27%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferdinand, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83526 | 0.19% | 0.21% | 0.33% | 0.46% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Ferdinand, Idaho
In Ferdinand, 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 Assessor 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 Ferdinand, 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 Ferdinand helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ferdinand is $702.00, and the lowest is also $702.00, both in the zip code 83526.
Average Ferdinand Assessed Value
$207,074
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 Ferdinand, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83526 | $74,938 | $114,910 | $207,074 | $348,227 | $482,604 |
Source: Ownwell
Property Tax Bills Across Ferdinand, Idaho
In Ferdinand, located in Idaho County, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Ferdinand is $207,074, and the tax rate is applied to this value to determine the annual tax bill. For homeowners, the tax bill can vary significantly. For instance, at the 25th percentile, the tax bill is $549, while at the 75th percentile, it rises to $869, and at the 90th percentile, it can reach $1105. These variations are influenced by factors such as property improvements, neighborhood developments, and changes in the local tax rate. The highest and lowest median tax bills in Ferdinand are both recorded at $702 in the zip code 83526, reflecting a relatively consistent tax rate across the area. This system ensures that property taxes are proportionate to property values, impacting homeowners by contributing to local services and infrastructure while also representing a significant annual expense.
Average Ferdinand Tax Bill
$702
Average Idaho County Tax Bill
$670
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferdinand, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83526 | $459 | $549 | $702 | $869 | $1,105 |
Source: Ownwell