De Witt, Iowa Property Taxes
The median property tax rate in DE WITT, IA is 1.70%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in DE WITT at $226,570, the typical annual property tax bill reaches $3,621, exceeding the national median of $2,690. Property taxes in DE WITT are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding DE WITT'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 DE WITT 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
De Witt, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$3,852
Ownwell’s DE WITT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE WITT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE WITT 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 De Witt, Iowa
Property taxes in De Witt, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Witt is 1.70%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within De Witt set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Witt 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 De Witt's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52742 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with De Witt provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Witt Tax Rate
1.70%
Average Clinton County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Witt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52742 | 1.25% | 1.32% | 1.70% | 1.79% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across De Witt, Iowa
In DE WITT, 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 Clinton 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 DE WITT, 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 DE WITT 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 in DE WITT is 52742, with a median tax bill of $3,621.
Average De Witt Assessed Value
$226,570
Average Clinton County Assessed Value
$133,420
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Witt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52742 | $126,778 | $168,930 | $226,570 | $323,615 | $428,756 |
Source: Ownwell
Property Tax Bills Across De Witt, Iowa
In De Witt, IA, located in Clinton County, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects the market value of the property. Several factors influence this assessed value, including the property's size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in De Witt face a range of property tax bills. For instance, the 25th percentile tax bill is around $2,776, while the 75th percentile reaches up to $4,972. The top 10% of tax bills can be as high as $6,691. The median home price in De Witt is approximately $226,570, and the median property tax rate is significantly higher than the national median of 0.99%. This higher tax rate can impact homeowners by increasing their annual expenses, making it crucial for them to budget effectively and consider potential tax exemptions or appeals.
Average De Witt Tax Bill
$3,621
Average Clinton County Tax Bill
$2,178
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across De Witt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52742 | $2,055 | $2,776 | $3,621 | $4,972 | $6,691 |
Source: Ownwell