Twin Falls County, Idaho Property Taxes
The median property tax rate in Twin Falls is 0.51%, which is slightly higher than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Twin Falls at $313,924, the typical annual property tax bill reaches $1,816, which falls below the national median of $2,690. Property taxes in Twin Falls 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 Twin Falls' specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Twin Falls or another part of Twin Falls County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Twin Falls County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,601
$1,486
Ownwell’s Twin Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Twin Falls with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Twin Falls 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 more local informational pages. 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 Twin Falls County, Idaho
Property taxes in Twin Falls play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Twin Falls is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Twin Falls set these rates annually, and they can vary significantly between different areas within the county. Each year, Twin Falls 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 Twin Falls' effective property tax rate with other areas in Idaho and the national median. For comparison, the city of Murtaugh has one of the higher property tax rates in Idaho at 0.61%, while the city of Buhl boasts one of the lowest at 0.46%. Analyzing how Twin Falls' tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
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 Twin Falls County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bliss | N/A | N/A | N/A | N/A | N/A |
| Buhl | 0.24% | 0.31% | 0.46% | 0.57% | 0.71% |
| Castleford | 0.31% | 0.33% | 0.48% | 0.70% | 0.83% |
| Filer | 0.30% | 0.37% | 0.48% | 0.61% | 0.70% |
| Hagerman | 0.27% | 0.36% | 0.47% | 0.61% | 0.61% |
| Hansen | 0.38% | 0.42% | 0.47% | 0.74% | 1.04% |
| Kimberly | 0.38% | 0.43% | 0.49% | 0.61% | 0.73% |
| Murtaugh | 0.42% | 0.51% | 0.61% | 0.89% | 0.94% |
| Rogerson | 0.26% | 0.28% | 0.58% | 0.64% | 0.64% |
| Twin Falls | 0.40% | 0.43% | 0.53% | 0.67% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Twin Falls County, Idaho
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Twin Falls. 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 Twin Falls 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 Twin Falls 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 Twin Falls will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. The city with the highest median tax bill in the county is Kimberly at $2,187, while Bliss has the lowest at $595.
Property Tax Assessment Values Across Twin Falls County, Idaho
Source: Ownwell
$70,269
$228,309
$386,348
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 Twin Falls County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bliss | N/A | N/A | N/A | N/A | N/A |
| Buhl | $61,462 | $170,750 | $259,057 | $386,644 | $550,506 |
| Castleford | $48,667 | $71,162 | $168,872 | $380,369 | $556,757 |
| Filer | $98,268 | $223,309 | $312,921 | $434,724 | $611,282 |
| Hagerman | $14,946 | $34,117 | $313,150 | $502,465 | $833,796 |
| Hansen | $25,608 | $172,544 | $246,858 | $366,209 | $552,521 |
| Kimberly | $175,784 | $267,821 | $386,348 | $512,557 | $709,630 |
| Murtaugh | $92,899 | $188,225 | $295,563 | $408,852 | $596,371 |
| Rogerson | $5,727 | $17,094 | $70,269 | $217,978 | $312,567 |
| Twin Falls | $165,892 | $242,386 | $316,390 | $412,049 | $550,619 |
Source: Ownwell
Property Tax Bills Across Twin Falls County, Idaho
In Twin Falls County, Idaho, property tax bills are calculated based on the assessed value of a property and the applicable tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax amount, including property type, location, and any applicable exemptions or deductions. For instance, homeowners in Twin Falls County experience a range of property tax bills. The 25th percentile tax bill is $1,188, while the 75th percentile reaches $2,720, and at the 90th percentile, it climbs to $3,672. Comparatively, the national median property tax rate is 0.99%, giving homeowners in Twin Falls County a point of reference for understanding their tax obligations. The impact on homeowners can vary significantly. For example, those in Kimberly face the highest median tax bill at $2,187, whereas homeowners in Bliss encounter the lowest at $595. These variations illustrate how location and property values within the county can significantly affect property tax bills.
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 Twin Falls County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bliss | N/A | N/A | N/A | N/A | N/A |
| Buhl | $533 | $825 | $1,287 | $2,025 | $2,859 |
| Castleford | $286 | $487 | $1,167 | $2,386 | $3,231 |
| Filer | $726 | $1,089 | $1,651 | $2,364 | $3,363 |
| Hagerman | $654 | $1,267 | $1,899 | $3,058 | $4,820 |
| Hansen | $763 | $963 | $1,530 | $2,478 | $3,545 |
| Kimberly | $937 | $1,431 | $2,187 | $3,043 | $4,007 |
| Murtaugh | $869 | $1,224 | $1,946 | $3,105 | $4,862 |
| Rogerson | $265 | $384 | $644 | $1,171 | $2,883 |
| Twin Falls | $872 | $1,300 | $1,879 | $2,810 | $3,742 |
Source: Ownwell