Dedham, Iowa Property Taxes
The median property tax rate in Dedham, IA is 0.97%, slightly below the national median of 0.99% and significantly lower than Iowa's state median of 1.54%. With a median home value of $132,995 in Dedham, the typical annual property tax bill is $1,239, which is less than the national median of $2,690. Property taxes in Dedham are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. 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, comprehending 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
0.97%
Estimate Property Tax Bill
$1,290
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dedham is 0.97%, just slightly below 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 zip code 51440 has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these cities compare with Dedham provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dedham Tax Rate
0.97%
Average Carroll County Tax Rate
1.15%
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 | 0.69% | 0.85% | 0.97% | 1.07% | 1.19% |
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 is 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 Carroll County Assessor 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. Being aware of these valuation processes in Dedham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 51440, at $1,239, while the lowest is also 51440, reflecting the uniformity in assessed values within the area.
Average Dedham Assessed Value
$132,995
Average Carroll County Assessed Value
$153,990
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 | $40,305 | $82,018 | $132,995 | $214,728 | $285,864 |
Source: Ownwell
Property Tax Bills Across Dedham, Iowa
In Dedham, located in Carroll County, IA, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's size, age, location, and condition. For homeowners in Dedham, property taxes can vary widely. The tax bill at the 25th percentile is $716, while at the 75th percentile, it rises to $2,055. At the 90th percentile, homeowners might see tax bills as high as $2,835. These figures indicate a significant range in property tax burdens, influenced by the varying property values within the area. Compared to the national median property tax rate of 0.99%, Dedham’s property taxes provide a useful benchmark for understanding local tax obligations. Homeowners must consider these taxes as a crucial component of their annual expenses, impacting overall affordability and long-term financial planning.
Average Dedham Tax Bill
$1,239
Average Carroll County Tax Bill
$1,746
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 | $317 | $716 | $1,239 | $2,055 | $2,835 |
Source: Ownwell