Firth, Idaho Property Taxes
The median property tax rate in Firth, ID is 0.37%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value in Firth of $256,922, the typical annual property tax bill amounts to $878, well below the national median of $2,690. Property taxes in Firth 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 Firth'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 Firth or another part of Bingham County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Firth, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$951
$882
Ownwell’s Firth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Firth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Firth 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 Firth, Idaho
Property taxes in Firth, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Firth is 0.37%, which is lower than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Firth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Firth 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 Firth's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is found in zip code 83702 with a tax rate of 1.18%, while the lowest median tax rate is in zip code 83206 with a tax rate of 0.35%. Understanding how these cities compare with Firth provides valuable insights into the varying tax landscape across Bingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Firth Tax Rate
0.37%
Average Bingham County Tax Rate
0.49%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Firth, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83236 | 0.26% | 0.31% | 0.37% | 0.58% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Firth, Idaho
In Firth, 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 Bingham 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 Firth, 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 Firth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83236 has the highest and lowest median tax bill, both recorded at $878.
Average Firth Assessed Value
$256,922
Average Bingham County Assessed Value
$255,122
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Firth, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83236 | $16,580 | $137,394 | $256,922 | $366,494 | $461,398 |
Source: Ownwell
Property Tax Bills Across Firth, Idaho
In Firth, located in Bingham County, ID, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local county assessors who evaluate the property's market value. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. Homeowners in Firth can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is around $508, while the 75th percentile reaches $1,417, and the 90th percentile can go up to $1,941. These tax bills are influenced by multiple factors, including the property's location, size, and any improvements made. Compared to the national median property tax rate of 0.99%, Firth's property taxes can be relatively moderate, making it an attractive option for homeowners. However, understanding these variances is crucial for budgeting and financial planning. Homeowners should regularly review their property assessments to ensure they are fair and accurate, potentially appealing if discrepancies are found.
Average Firth Tax Bill
$878
Average Bingham County Tax Bill
$1,085
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Firth, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83236 | $113 | $508 | $878 | $1,417 | $1,941 |
Source: Ownwell