Welton, Iowa Property Taxes
The median property tax rate in Welton, IA is 1.53%, slightly above the national median of 0.99% but just below the Iowa state median of 1.54%. Given the median home value in Welton, the typical annual property tax bill amounts to $1,712, which is lower than the national median of $2,690. Property taxes in Welton are determined based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Welton'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 Welton or another part of Clinton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Welton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,748
Ownwell’s Welton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Welton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Welton 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 Welton, Iowa
Property taxes in Welton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Welton is 1.53%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Welton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Welton 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 Welton's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52774 has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Welton 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 Welton Tax Rate
1.53%
Average Clinton County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Welton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52774 | 1.41% | 1.49% | 1.53% | 1.64% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Welton, Iowa
In Welton, 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 Welton, 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 Welton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Welton is $1712 in the 52774 zip code, while the lowest is also $1712 in the same zip code.
Average Welton Assessed Value
$114,270
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 Welton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52774 | $35,400 | $69,508 | $114,270 | $136,462 | $177,160 |
Source: Ownwell
Property Tax Bills Across Welton, Iowa
In Welton, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The property tax rate in Welton, located in Clinton County, is applied to this assessed value to determine the annual tax bill. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions or abatements. For homeowners in Welton, the median property tax bill is notably higher than the national median property tax rate of 0.99%. The median home price in Welton is $114,270, which results in a median tax bill of $1,712. Homeowners at the 25th percentile pay around $1,068, while those at the 75th percentile face tax bills of approximately $2,090. At the 90th percentile, tax bills can reach up to $2,749. These figures illustrate the significant impact property taxes can have on household budgets in Welton.
Average Welton Tax Bill
$1,712
Average Clinton County Tax Bill
$2,178
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Welton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52774 | $568 | $1,068 | $1,712 | $2,090 | $2,749 |
Source: Ownwell