Fernwood, Benewah County, Idaho Property Taxes
Median Fernwood, ID effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, but higher than the Idaho state median of 0.50%.
Median Fernwood, ID home value: $95,890
Median annual Fernwood, ID tax bill: $494, $1,906 lower than the national median property tax bill of $2,400.
How are property taxes in Benewah County calculated?
Property taxes in Fernwood, ID are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Fernwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fernwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fernwood, Benewah County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$537
$498
Property Tax Rates Across Fernwood, Benewah County, Idaho
Local government entities are responsible for setting property tax rates, which can vary significantly within Idaho. Each county determines its required budget for public services annually and divides that by the total value of all taxable properties within its jurisdiction. This calculation establishes the property tax rate. Although the process involves votes and laws, this is the basic annual procedure.
Fernwood, located in Benewah County, has a median property tax rate of 0.56%. This rate is notably lower than the national median property tax rate of 1.02%. In fact, Fernwood's property tax rate is among the lowest in Idaho, which can be appealing for property owners looking to minimize their tax burden. When comparing Fernwood’s effective property tax rate to other cities in Idaho, it becomes evident that residents benefit from a more favorable tax environment. This lower tax rate not only makes Fernwood an attractive location for potential homeowners but also contributes to a lower cost of living compared to areas with higher tax rates.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Fernwood Tax Rate
0.56%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Benewah County Tax Rate
0.47%
Median Effective Idaho Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Fernwood, Benewah County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83830 | 0.21% | 0.36% | 0.56% | 0.75% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Fernwood, Benewah County, Idaho
When examining property taxes in Fernwood, ID, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Benewah County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Benewah County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Fernwood. For example, the median home price in Fernwood is $95,890, with tax bills ranging significantly across the county. Zip code 83830 has the highest median home price at $95,890.
Property Tax Assessment Values Across Fernwood, Benewah County, Idaho
Source: Ownwell
$95,890
$144,852
$193,814
Median Fernwood Market Value
$95,890
Median Benewah County Market Value
$164,078
Median Idaho Market Value
$374,698
Median United States Market Value
$235,294
Property Tax Assessment Values Across Fernwood, Benewah County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83830 | $6,502 | $30,100 | $95,890 | $181,976 | $267,791 |
Source: Ownwell
Property Tax Bills Across Fernwood, Benewah County, Idaho
In Fernwood, located in Benewah County, Idaho, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The property tax rate in this region is relatively low compared to the national median property tax rate of 1.02%. With a median home price of $95,890, the property tax bills can vary significantly. For example, the 25th percentile tax bill is $214, while the 75th percentile reaches $824, and the 90th percentile is $1,205. These figures illustrate how property taxes can impact homeowners differently, depending on the assessed value of their property.
Ownwell assists homeowners by providing property tax appeal and exemption services, helping to ensure that their property is not over-assessed. By leveraging expert knowledge and data-driven insights, Ownwell can identify potential savings, ensuring that homeowners in Fernwood pay only their fair share. This service can be particularly beneficial in a county where even the highest and lowest median tax bills are the same at $494, highlighting the importance of accurate assessments.
Median Fernwood Tax Bill
$494
Median Benewah County Tax Bill
$762
Median Idaho Tax Bill
$1,894
Median United States Tax Bill
$2,400
Property Tax Bills Across Fernwood, Benewah County, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83830 | $123 | $214 | $494 | $824 | $1,205 |
Source: Ownwell