Example of Benewah County Property Tax Calculation
Benewah County Property Tax Calculation is a process of assessing and determining the amount of taxes owed on a property located within the county. Here's an example of how it works:
First, the county assessor determines the market value of the property. Let's say the market value of the property is $100,000.
Next, the assessor applies the assessment rate to the market value. In Benewah County, the current assessment rate is 9%. So, 9% of $100,000 is $9,000.
Then, any applicable exemptions or deductions are applied to the assessed value. Let's say the property owner qualifies for a $1,000 exemption. So, the assessed value is now $8,000.
Finally, the tax rate for the property is applied to the assessed value. In Benewah County, the current tax rate is $10.50 per $1,000 of assessed value. So, $8,000 divided by $1,000 equals 8, and 8 multiplied by $10.50 gives a total property tax amount of $84.
In summary, the Benewah County Property Tax Calculation is a process of determining the amount of tax owed on a property based on its market value, assessment rate, exemptions, deductions, and tax rate.
If you want appeal your property tax assessment - contact your local tax assessor.
Benewah County Property Tax Rates
The following table displays the Property Tax rates for Benewah County in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.9313 |
| County Roads | $0.2850 |
| County Levy | $0.2660 |
| County Jr. College | $0.3950 |
| Total | $1.8773 |
It is important to note that these rates are subject to change and may vary based on individual circumstances. As a tax advisor, it is recommended to consult with the local tax authorities for the most up-to-date and accurate information regarding property taxes in Benewah County.
Who sets property tax rates in Benewah County ?
Who Sets Property Tax Rates in Benewah County?
The Benewah County Board of County Commissioners is responsible for setting property tax rates in the county. They meet annually to determine the tax levy, which is the amount of revenue needed to fund county services such as public schools, law enforcement, and road maintenance.
When Are Property Tax Rates Set in Benewah County?
The county commissioners typically set property tax rates in August or September of each year. They conduct public hearings to gather input from residents before making a final decision on the tax levy. Property owners are then notified of their tax assessments and have the option to dispute the amount if they believe it to be incorrect.
Why Are Property Taxes Important?
Property taxes are a crucial source of revenue for local governments to fund important community services. In Benewah County, property taxes help pay for the salaries of county employees, maintenance of public facilities, and emergency services. Property owners should be aware of their taxes and understand how they are calculated to ensure they are paying a fair amount.
When is Benewah County Property Tax due ?
According to the official Benewah County website, property taxes are typically due on December 20th of each year. If the due date falls on a weekend or holiday, the deadline will be extended to the following business day.
There are several payment methods available for property taxes in Benewah County. These include:
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In person: Payments can be made at the Benewah County Treasurer's Office using cash, check, or money order.
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By mail: Payments can be mailed to the Benewah County Treasurer's Office using a check or money order.
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Online: Payments can be made online with a credit/debit card or e-check. A convenience fee will be charged for this service.
It is important to note that failure to pay property taxes by the deadline can result in penalties and interest charges. Therefore, it is recommended to make payments on time using one of the available methods to avoid any additional fees.
To learn more about Benewah County property taxes and payment methods, visit the county's official website or contact the Treasurer's Office directly.
If you have more questions - contact your local tax collector.
Homestead exemptions in Benewah County ?
In Benewah County, Idaho, there are several Homestead exemptions and deductions available for homeowners. Below is a table providing information on each exemption, eligibility requirements, maximum amount, and important notes to keep in mind.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Standard Homestead Exemption | Homeowners who occupy their home as their primary residence | $100,000 | Applies to the assessed value of the property |
| Circuit Breaker Property Tax Relief | Homeowners who are at least 65 years old or have a disability | Varies based on income and property value | Must apply annually |
| Property Tax Reduction for Veterans | Veterans with a service-related disability of at least 10% | Varies based on disability percentage and income level | Must provide documentation of disability |
| Agricultural Land Exemption | Owners of agricultural land who use the land for a qualifying purpose | Varies based on acreage and use | Must meet specific requirements regarding land use |
| Timber Exemption | Owners of land primarily used for the growth and harvest of timber | Varies based on acreage and value of timber | Must provide documentation of land use |
It is important to note that applicants must meet all eligibility requirements for each exemption and submit necessary documentation to the county assessor's office. Homeowners should also keep in mind that exemptions and deductions may change from year to year, so it is always best to stay informed and up-to-date on any updates or changes.
How is Benewah County Property Tax penalty calculated ?
Benewah County Property Tax Penalty Calculation
Benewah County imposes penalties on property owners who fail to pay their property taxes on time. The penalty is calculated as a percentage of the unpaid tax amount. The penalty rate varies depending on the number of days the payment is delinquent.
The penalty rates for Benewah County are as follows:
| Days Delinquent | Penalty Rate |
|---|---|
| 1-30 | 2% |
| 31-60 | 3% |
| 61-90 | 4% |
| Over 90 | 5% |
For example, suppose a property owner fails to pay the first installment of their property taxes, which was due on January 1st. The property owner makes the payment on February 1st, which is 30 days late. The unpaid tax amount is $1,000.
The penalty for the delinquent payment is calculated as follows:
| Property Tax Amount | Penalty Rate | Days Delinquent | Penalty Amount |
|---|---|---|---|
| $1,000 | 2% | 30 | $20 |
Therefore, the penalty amount for the delinquent payment is $20. The total amount owed by the property owner is $1,020 ($1,000 + $20).
It is essential for property owners in Benewah County to pay their property taxes on time to avoid incurring penalties. In case of any difficulty, property owners can contact the Benewah County Treasurer's Office for further assistance.
We recommend contacting the Benewah County Tax Office or a local tax professional for the most up-to-date and accurate information.