Delaware, Iowa Property Taxes
The median property tax rate in Delaware, IA is 1.36%, notably higher than the national median of 0.99% but below the Iowa state median of 1.54%. With a median home value of $89,650 in Delaware, the typical annual property tax bill amounts to $1,078, which is lower than the national median of $2,690. Property taxes in Delaware are determined based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a clear understanding of Delaware's property tax system, exploring available exemptions, and identifying potential reductions can lead to substantial yearly savings. Whether you reside in the heart of Delaware or another part of the county, comprehending the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Delaware, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$1,219
Ownwell’s Delaware Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Delaware with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delaware 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 Delaware, Iowa
Property taxes in Delaware, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delaware is 1.36%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Delaware set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delaware 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 Delaware's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52036 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Delaware provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delaware Tax Rate
1.36%
Average Delaware County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delaware, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52036 | 1.14% | 1.31% | 1.36% | 1.47% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Delaware, Iowa
In Delaware, 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 Delaware 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 Delaware, 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 Delaware helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Delaware is $1078 in the 52036 zip code, while the lowest median tax bill is also $1078 in the same zip code.
Average Delaware Assessed Value
$89,650
Average Delaware County Assessed Value
$182,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delaware, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52036 | $16,470 | $42,075 | $89,650 | $131,500 | $172,490 |
Source: Ownwell
Property Tax Bills Across Delaware, Iowa
In Delaware, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to arrive at the final tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Delaware County experience a range of property tax bills. For instance, the 25th percentile of tax bills is around $560, while the 75th percentile reaches up to $1,794. At the higher end, the 90th percentile of tax bills can go as high as $2,386. These figures highlight the variability depending on property characteristics and assessed values. Compared to the national median property tax rate of 0.99%, Delaware County homeowners may find their tax obligations vary significantly. Understanding these factors can help homeowners better anticipate their property tax bills and plan their finances accordingly.
Average Delaware Tax Bill
$1,078
Average Delaware County Tax Bill
$2,420
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Delaware, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52036 | $222 | $560 | $1,078 | $1,794 | $2,386 |
Source: Ownwell