Fort Atkinson, Iowa Property Taxes
The median property tax rate in Fort Atkinson, IA is 1.08%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Fort Atkinson at $349,400, the typical annual property tax bill reaches $3,824, which exceeds the national median of $2,690. Property taxes in Fort Atkinson are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fort Atkinson'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 Fort Atkinson 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
Fort Atkinson, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,774
Ownwell’s FORT ATKINSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT ATKINSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT ATKINSON 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 Fort Atkinson, Iowa
Property taxes in Fort Atkinson, Iowa, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Atkinson is 1.08%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Fort Atkinson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Atkinson 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 Fort Atkinson's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52144 zip code has the highest median property tax rate of 1.08%, while also having the lowest median tax rate of 1.08%. Understanding how these cities compare with Fort Atkinson provides valuable insights into the varying tax landscape across Chickasaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Atkinson Tax Rate
1.08%
Average Chickasaw County Tax Rate
1.19%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Atkinson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | 0.95% | 0.96% | 1.08% | 1.20% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Fort Atkinson, Iowa
In Fort Atkinson, 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 Chickasaw 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 Fort Atkinson, 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 Fort Atkinson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fort Atkinson is $3,824 in the 52144 zip code, which is also the lowest median tax bill.
Average Fort Atkinson Assessed Value
$349,400
Average Chickasaw County Assessed Value
$150,300
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Atkinson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | $167,500 | $212,550 | $349,400 | $410,425 | $423,450 |
Source: Ownwell
Property Tax Bills Across Fort Atkinson, Iowa
In Fort Atkinson, located in Chickasaw County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any improvements made to the property. For instance, the median home price in Fort Atkinson is $349,400. Homeowners in the 25th percentile can expect a tax bill around $2,044, while those in the 75th percentile might see bills as high as $4,940. The highest median tax bill recorded in the area is $3,824, which is higher than the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, influencing their monthly budgets and overall financial planning. Understanding how these taxes are calculated can help homeowners better anticipate and manage their expenses.
Average Fort Atkinson Tax Bill
$3,824
Average Chickasaw County Tax Bill
$1,710
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Atkinson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | $1,584 | $2,044 | $3,824 | $4,940 | $5,266 |
Source: Ownwell