Peosta, Iowa Property Taxes
The median property tax rate in Peosta, IA is 1.11%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Peosta at $351,244, the typical annual property tax bill reaches $3,787, significantly exceeding the national median of $2,690. Property taxes in Peosta are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Peosta'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 Peosta or another part of Dubuque County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peosta, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$3,899
Ownwell’s Peosta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peosta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peosta 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 Peosta, Iowa
Property taxes in Peosta, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peosta is 1.11%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Peosta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peosta 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 Peosta's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52068 zip code has the highest median property tax rate of 1.11%, while the 52068 zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Peosta provides valuable insights into the varying tax landscape across Dubuque County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Peosta Tax Rate
1.11%
Average Dubuque County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peosta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52068 | 0.91% | 0.97% | 1.11% | 1.19% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Peosta, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Peosta, Iowa. 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 Dubuque 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 Peosta, 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 Peosta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Peosta is $3,787 in the 52068 zip code, while the lowest median tax bill is also $3,787 in the same zip code.
Average Peosta Assessed Value
$351,244
Average Dubuque County Assessed Value
$216,801
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peosta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52068 | $224,239 | $287,950 | $351,244 | $435,150 | $523,080 |
Source: Ownwell
Property Tax Bills Across Peosta, Iowa
Property tax bills in Peosta, located in Dubuque County, IA, are determined using the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This value is then multiplied by the local tax rate to calculate the annual property tax bill. In Peosta, the median home price stands at $351,244. Property owners in the 25th percentile pay around $3,052 annually, while those in the 75th percentile pay approximately $4,678. Homeowners in the 90th percentile can expect a tax bill of about $5,560. The highest and lowest median tax bills in the area are both $3,787, indicating a level of consistency across the region. Compared to the national median property tax rate of 0.99%, Peosta's property tax rates can significantly impact homeowners' annual expenses, making it crucial for them to understand how their tax bills are calculated and budget accordingly.
Average Peosta Tax Bill
$3,787
Average Dubuque County Tax Bill
$2,714
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Peosta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52068 | $2,198 | $3,052 | $3,787 | $4,678 | $5,560 |
Source: Ownwell