Hamer, Idaho Property Taxes
The median property tax rate in Hamer, Idaho is 0.58%, slightly higher than the state median of 0.50% but below the national median of 0.99%. With the median home value in Hamer at $188,778, the typical annual property tax bill amounts to $920, significantly lower than the national median of $2,690. Property taxes in Hamer are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hamer'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 Hamer or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hamer, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,095
Ownwell’s Hamer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hamer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hamer 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 Hamer, Idaho
Property taxes in Hamer, Idaho, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Hamer is 0.58%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Hamer set these rates annually, and they can vary across different neighborhoods. Each year, Hamer 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 Hamer's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83425 has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Hamer provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hamer Tax Rate
0.58%
Average Jefferson County Tax Rate
0.39%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hamer, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83425 | 0.34% | 0.40% | 0.58% | 0.68% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Hamer, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hamer, 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 Jefferson 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 Hamer, 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 highest median tax bill in Hamer is $920 in the 83425 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hamer Assessed Value
$188,778
Average Jefferson County Assessed Value
$327,168
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hamer, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83425 | $11,659 | $68,856 | $188,778 | $310,261 | $490,936 |
Source: Ownwell
Property Tax Bills Across Hamer, Idaho
In Hamer, located in Jefferson County, ID, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and applicable exemptions. Homeowners in Hamer experience a range of tax bills. For instance, the 25th percentile tax bill is $392, while the 75th percentile reaches $1,585. The 90th percentile tax bill can go up to $2,516. These figures highlight the variability in property tax burdens within the city. The median home price in Hamer is $188,778, which serves as a benchmark for understanding these tax bills. Compared to the national median property tax rate of 0.99%, Hamer's property taxes can be relatively manageable, but individual circumstances and property values significantly influence the final tax bill.
Average Hamer Tax Bill
$920
Average Jefferson County Tax Bill
$1,302
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Hamer, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83425 | $67 | $392 | $920 | $1,585 | $2,516 |
Source: Ownwell