Earlville, Iowa Property Taxes
The median property tax rate in Earlville, IA is 1.37%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $158,700 in Earlville, the typical annual property tax bill is $2,266, falling below the national median of $2,690. Property taxes in Earlville are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Earlville'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 Earlville 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
Earlville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$2,174
Ownwell’s Earlville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Earlville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Earlville 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 Earlville, Iowa
Property taxes in Earlville, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Earlville is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Earlville set these rates annually, and they can vary across different neighborhoods. Each year, Earlville 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 Earlville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52041 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Earlville 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 Earlville Tax Rate
1.37%
Average Delaware County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Earlville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52041 | 0.96% | 1.03% | 1.37% | 1.69% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Earlville, Iowa
In Earlville, 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 Earlville, 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. The median home price in Earlville stands at $158,700, with the 25th percentile tax bill at $1,394 and the 75th percentile tax bill at $3,376. 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 Earlville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Earlville Assessed Value
$158,700
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 Earlville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52041 | $50,200 | $94,850 | $158,700 | $277,850 | $416,900 |
Source: Ownwell
Property Tax Bills Across Earlville, Iowa
In Earlville, located in Delaware County, IA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. Homeowners in Earlville face a median property tax bill that reflects the local tax rate applied to their property's assessed value. For instance, the median home price in Earlville is $158,700. Depending on the specific assessed value and applicable exemptions, the property tax bill can vary significantly. At the 25th percentile, homeowners might see a tax bill of $1,394, while those at the 75th percentile could pay around $3,376. At the 90th percentile, the tax bill can reach up to $4,860. These property taxes support essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the tax rates in Earlville can influence the overall cost of homeownership, making it essential for homeowners to understand how their tax bills are determined.
Average Earlville Tax Bill
$2,266
Average Delaware County Tax Bill
$2,420
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Earlville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52041 | $828 | $1,394 | $2,266 | $3,376 | $4,860 |
Source: Ownwell