North Washington, Iowa Property Taxes
The median property tax rate in North Washington, IA is 1.47%, which is significantly higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With a median home value of $12,900 in North Washington, the typical annual property tax bill amounts to $190, far below the national median of $2,690. Property taxes in North Washington are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding North Washington'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 North Washington or another part of Chickasaw County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Washington, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$190
Ownwell’s North Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Washington 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 North Washington, Iowa
Property taxes in North Washington, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Washington is 1.47%, which is higher than the U.S. national median of 0.99%. Local government entities within North Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Washington 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 North Washington's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50659 zip code has both the highest and lowest median property tax rate of 1.47%. Understanding how these cities compare with North Washington 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 North Washington Tax Rate
1.47%
Average Chickasaw County Tax Rate
1.19%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Washington, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50659 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across North Washington, Iowa
In North Washington, 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 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 North Washington, 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 North Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 50659, both at $190, reflecting a consistent property tax environment.
Average North Washington Assessed Value
$12,900
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 North Washington, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50659 | $12,900 | $12,900 | $12,900 | $12,900 | $12,900 |
Source: Ownwell
Property Tax Bills Across North Washington, Iowa
In North Washington, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Factors such as property size, location, and improvements can influence this assessment. In Chickasaw County, where North Washington is located, the tax bill remains consistent across various percentiles, with homeowners typically seeing a median tax bill of $190. This is significantly lower than the national median property tax rate of 0.99%, making it an attractive location for homeowners seeking lower property taxes. The tax bill directly impacts homeowners by contributing to essential local services such as schools, infrastructure, and emergency services. A lower tax bill can make homeownership more affordable, particularly for those on a fixed income or first-time buyers. Understanding how property taxes are calculated and what factors influence them can help homeowners better anticipate their annual expenses and plan their finances accordingly.
Average North Washington Tax Bill
$190
Average Chickasaw County Tax Bill
$1,710
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across North Washington, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50659 | $190 | $190 | $190 | $190 | $190 |
Source: Ownwell