Klemme, Iowa Property Taxes
The median property tax rate in Klemme, IA is 0.41%, significantly lower than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Klemme, the typical annual property tax bill comes to $1,986, which is also below the national median of $2,690. Property taxes in Klemme are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Klemme's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Klemme or another part of Cerro Gordo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Klemme, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,101
Ownwell’s Klemme Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Klemme with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Klemme 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 Klemme, Iowa
Property taxes in Klemme, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Klemme is 0.41%, significantly lower than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Klemme set these rates annually, and they can vary significantly across different neighborhoods. Each year, Klemme 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 Klemme's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50449 has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Klemme provides valuable insights into the varying tax landscape across Cerro Gordo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Klemme Tax Rate
0.41%
Average Cerro Gordo County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Klemme, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50449 | 0.25% | 0.31% | 0.41% | 0.73% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Klemme, Iowa
In Klemme, Iowa, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Cerro Gordo 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 Klemme, 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. The median home price in Klemme is $268,640, with tax bills ranging from $1,155 at the 25th percentile to $2,672 at the 90th percentile. The highest and lowest median tax bills both stand at $1,986 in the 50449 zip code. 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 Klemme helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Klemme Assessed Value
$268,640
Average Cerro Gordo County Assessed Value
$157,690
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Klemme, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50449 | $177,080 | $211,415 | $268,640 | $377,745 | $443,208 |
Source: Ownwell
Property Tax Bills Across Klemme, Iowa
In Klemme, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Klemme, located in Cerro Gordo County, experience a range of property tax bills. For instance, the 25th percentile tax bill is $1,155, while the 75th percentile tax bill reaches $2,415. At the 90th percentile, homeowners can expect to pay around $2,672 annually. Several factors influence the tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. The median home price in Klemme is $268,640, which provides a baseline for understanding how these taxes impact homeowners. Compared to the national median property tax rate of 0.99%, Klemme's property tax rates can vary, but they offer a clear picture of what homeowners can expect to pay annually. The highest and lowest median tax bills in the area both stand at $1,986, indicating a relatively consistent tax burden across different properties.
Average Klemme Tax Bill
$1,986
Average Cerro Gordo County Tax Bill
$2,032
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Klemme, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50449 | $656 | $1,155 | $1,986 | $2,415 | $2,672 |
Source: Ownwell