Desmet, Benewah County, Idaho Property Taxes
The median property tax rate in Desmet, ID is 0.40%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Desmet at $187,030, the typical annual property tax bill amounts to $777, far below the national median of $2,690. Property taxes in Desmet 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 Desmet'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 Desmet or another part of Benewah County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Desmet, Benewah County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$748
$694
Ownwell’s DESMET Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DESMET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DESMET 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 Desmet, Benewah County, Idaho
Property taxes in DeSmet, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DeSmet is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within DeSmet set these rates annually, and they can vary across different neighborhoods. Each year, DeSmet 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 DeSmet's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83824 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with DeSmet provides valuable insights into the varying tax landscape across Benewah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Desmet Tax Rate
0.40%
Average Benewah County Tax Rate
0.47%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Desmet, Benewah County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83824 | 0.26% | 0.30% | 0.40% | 0.52% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Desmet, Benewah County, Idaho
In Desmet, 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 Benewah 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 Desmet, 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 Desmet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $777.00, found in the zip code 83824.
Property Tax Assessment Values Across Desmet, Benewah County, Idaho
Source: Ownwell
$95,890
$144,852
$193,814
Average Desmet Assessed Value
$187,030
Average Benewah County Assessed Value
$164,078
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Desmet, Benewah County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83824 | $6,906 | $67,608 | $187,030 | $346,545 | $478,042 |
Source: Ownwell
Property Tax Bills Across Desmet, Benewah County, Idaho
In DeSmet, property tax bills are calculated based on the assessed value of a home, which is determined by the Benewah County Assessor's Office. The assessed value is a percentage of the market value of the property. Homeowners in DeSmet can expect their property tax bills to vary significantly depending on the value of their homes. For instance, the tax bill for a home in the 25th percentile is around $480, while those in the 75th percentile pay about $1,345. At the 90th percentile, the tax bill can reach up to $1,849. These property tax bills are influenced by various factors, including local tax rates and any applicable exemptions or deductions. With the national median property tax rate at 0.99%, DeSmet's property taxes can be considered relatively moderate. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly. The highest and lowest median tax bills in DeSmet are both $777, highlighting a level of consistency within certain areas of the city.
Average Desmet Tax Bill
$777
Average Benewah County Tax Bill
$762
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Desmet, Benewah County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83824 | $258 | $480 | $777 | $1,345 | $1,849 |
Source: Ownwell