Bern, Idaho Property Taxes
The median property tax rate in Bern, Idaho is 0.26%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With the median home value in Bern, the typical annual property tax bill is $716, well below the national median of $2,690. Property taxes in Bern are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bern'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 Bern or another part of Bear Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bern, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.26%
Estimate Property Tax Bill
$625
Ownwell’s Bern Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bern with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bern 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 Bern, Idaho
Property taxes in Bern, Idaho, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bern is 0.26%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Bern set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bern 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 Bern's effective property tax rate to other counties in Idaho and the national median. Understanding how these cities compare with Bern provides valuable insights into the varying tax landscape across Bear Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bern Tax Rate
0.26%
Average Bear Lake County Tax Rate
0.36%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bern, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83220 | 0.22% | 0.23% | 0.26% | 0.40% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Bern, Idaho
In Bern, 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 Bear Lake 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 Bern, 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 Bern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 83220, with a tax bill of $716, which is also the lowest median tax bill in the area.
Average Bern Assessed Value
$240,281
Average Bear Lake County Assessed Value
$278,628
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bern, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83220 | $133,854 | $177,500 | $240,281 | $353,856 | $507,989 |
Source: Ownwell
Property Tax Bills Across Bern, Idaho
In Bern, Bear Lake County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $240,281, homeowners can expect a range of property tax bills depending on various factors, such as exemptions and specific local levies. The 25th percentile tax bill in Bern is $546, indicating that a quarter of homeowners pay this amount or less. At the 75th percentile, the tax bill rises to $1,001, while the 90th percentile sees bills as high as $1,342. These figures highlight the variability in property tax burdens among residents. Compared to the national median property tax rate of 0.99%, Bern offers a relatively affordable property tax environment. This can be a significant factor for homeowners when considering overall housing costs and long-term financial planning.
Average Bern Tax Bill
$716
Average Bear Lake County Tax Bill
$1,081
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Bern, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83220 | $424 | $546 | $716 | $1,001 | $1,342 |
Source: Ownwell