Dedham, Iowa Property Taxes
The median property tax rate in Dedham, Iowa is 1.51%, slightly higher than the national median of 0.99% but below the Iowa state median of 1.54%. With the median home value in Dedham at $413,375, the typical annual property tax bill reaches $6,324, significantly exceeding the national median of $2,690. Property taxes in Dedham 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 Dedham's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dedham or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dedham, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$6,242
Ownwell’s Dedham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dedham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dedham 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 Dedham, Iowa
Property taxes in Dedham, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dedham is 1.51%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Dedham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dedham 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 Dedham's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51440 zip code has the highest median property tax rate of 1.51%, while the 51440 zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Dedham provides valuable insights into the varying tax landscape across Audubon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dedham Tax Rate
1.51%
Average Audubon County Tax Rate
1.32%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dedham, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51440 | 1.48% | 1.49% | 1.51% | 1.53% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Dedham, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dedham, Iowa. The market value represents 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 local 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 Dedham, 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. In Dedham, the median home price is $413,375. Notably, the highest median tax bill is $6,324 in the 51440 zip code. Recognizing these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dedham Assessed Value
$413,375
Average Audubon County Assessed Value
$103,200
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dedham, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51440 | $235,907 | $302,458 | $413,375 | $524,292 | $590,843 |
Source: Ownwell
Property Tax Bills Across Dedham, Iowa
In Dedham, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements or changes made to the property. Homeowners in Dedham face tax bills that can vary significantly. At the 25th percentile, the tax bill is around $4,568, while at the 75th percentile, it rises to $8,080. For those at the 90th percentile, the tax bill can reach up to $9,134. These values highlight the range of tax burdens homeowners might encounter, depending on the assessed value of their property. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates might impact overall costs. This variability in tax bills can significantly affect homeowners' annual expenses and financial planning.
Average Dedham Tax Bill
$6,324
Average Audubon County Tax Bill
$1,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Dedham, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51440 | $3,514 | $4,568 | $6,324 | $8,080 | $9,134 |
Source: Ownwell