Jerome County, Idaho Property Taxes
The median property tax rate in Jerome County is 0.79%, which is higher than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Jerome County at $180,486, the typical annual property tax bill reaches $1,457, which is below the national median of $2,690. Property taxes in Jerome County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Jerome County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Jerome or another part of Jerome County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jerome County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,426
$1,323
Ownwell’s Jerome County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Jerome County with just 2 data points. Enter your property's estimated assessed value, our calculator applies the median tax rate in Jerome County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Jerome County, Idaho
Property taxes in Jerome County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Jerome County is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Jerome County set these rates annually, and they can vary significantly between different areas within the county. Each year, Jerome County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Jerome County's effective property tax rate with other counties in Idaho and the national median. For comparison, the city of Jerome has one of the higher property tax rates in Idaho at 0.79%, while the city of Paul boasts one of the lowest at 0.56%. Analyzing how Jerome County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Jerome County Tax Rate
0.79%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Jerome County, Idaho
In Jerome County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Jerome County Appraisal District. The assessed value, however, 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. Assessment notices in Jerome County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Jerome County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. For example, Twin Falls has the highest median tax bill at $2,413, while Eden has the lowest at $894. This significant variation underscores the importance of understanding and managing your property tax assessments.
Average Jerome County Assessed Value
$180,486
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jerome County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Eden | $25,928 | $75,910 | $120,512 | $188,609 | $335,869 |
| Hazelton | $40,629 | $93,355 | $147,058 | $207,168 | $305,152 |
| Jerome | $26,675 | $113,638 | $187,855 | $286,375 | $392,316 |
| Paul | $104,543 | $150,538 | $201,968 | $251,332 | $301,402 |
| Twin Falls | $217,824 | $328,253 | $421,386 | $502,762 | $556,669 |
Source: Ownwell
Property Tax Bills Across Jerome County, Idaho
In Jerome County, Idaho, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence this assessed value, including the home's market value and any applicable exemptions. Homeowners in Jerome County see a range of property tax bills. For instance, the 25th percentile tax bill is around $801, while the 75th percentile tax bill is approximately $2,287. At the higher end, the 90th percentile tax bill can reach up to $3,076. Comparatively, the national median property tax rate stands at 0.99%, making Jerome County’s tax landscape relatively moderate. The impact on homeowners varies significantly; those in Eden experience the lowest median tax bill at $894, while residents in Twin Falls face the highest median tax bill at $2,413. Understanding these factors helps homeowners anticipate their financial responsibilities and manage their budgets effectively.
Average Jerome County Tax Bill
$1,457
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Jerome County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Eden | $136 | $396 | $894 | $1,539 | $2,297 |
| Hazelton | $307 | $650 | $1,080 | $1,656 | $2,277 |
| Jerome | $240 | $864 | $1,536 | $2,358 | $3,131 |
| Paul | $544 | $725 | $1,161 | $1,672 | $1,934 |
| Twin Falls | $1,096 | $1,729 | $2,413 | $3,217 | $4,635 |
Source: Ownwell