Hagerman, Idaho Property Taxes
The median property tax rate in Hagerman, ID is 0.47%, which is significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $313,150 in Hagerman, the typical annual property tax bill amounts to $1,899, falling well below the national median of $2,690. Property taxes in Hagerman are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hagerman's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hagerman or another part of the city, being informed about 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
0.47%
Estimate Property Tax Bill
$1,472
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 0.47%, which is lower than 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 areas in Twin Falls County and the national median. For comparison, the zip code 83332 has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these areas compare with Hagerman 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 Hagerman Tax Rate
0.47%
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 Hagerman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83332 | 0.27% | 0.36% | 0.47% | 0.61% | 0.61% |
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 Twin Falls 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 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. Hagerman’s median property tax bill stands at $1,899, which is significantly lower than the national median property tax rate of 0.99%. This can help identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hagerman Assessed Value
$313,150
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 Hagerman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83332 | $14,946 | $34,117 | $313,150 | $502,465 | $833,796 |
Source: Ownwell
Property Tax Bills Across Hagerman, Idaho
In Hagerman, property tax bills are calculated based on the assessed value of a home, which is determined by the Twin Falls County assessor. This assessed value is a percentage of the market value of the property. The tax rate, which is applied to this assessed value, is set by local taxing authorities and can vary depending on the needs of the community and the services provided. For homeowners in Hagerman, the median home price is $313,150. The property tax bills can vary significantly, with the 25th percentile tax bill at $1,267 and the 75th percentile at $3,058. At the higher end, the 90th percentile tax bill reaches $4,820. These figures reflect the range of property values and the corresponding tax obligations in the area. Compared to the national median property tax rate of 0.99%, Hagerman's property taxes can be considered moderate to high, depending on the specific property. This variability in tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Hagerman Tax Bill
$1,899
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 Hagerman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83332 | $654 | $1,267 | $1,899 | $3,058 | $4,820 |
Source: Ownwell