West Union, Iowa Property Taxes
The median property tax rate in West Union, IA is 1.39%, 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 West Union, the typical annual property tax bill reaches $1,732, falling below the national median of $2,690. Property taxes in West Union are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding West Union'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 West Union or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Union, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,873
Ownwell’s WEST UNION Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WEST UNION with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WEST UNION 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 West Union, Iowa
Property taxes in West Union, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Union is 1.39%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within West Union set these rates annually, and they can vary across different neighborhoods. Each year, West Union 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 West Union's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52175 zip code has both the highest and lowest median property tax rate of 1.39%. Understanding how these cities compare with West Union provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Union Tax Rate
1.39%
Average Fayette County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Union, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52175 | 0.97% | 1.11% | 1.39% | 1.51% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across West Union, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in West Union, 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 Fayette County Appraisal District 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 West Union, 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. For example, the median home price in West Union is $134,740, with tax bills ranging from $1,048 at the 25th percentile to $4,085 at the 90th percentile. Notably, the highest and lowest median tax bills are both $1,732 in the 52175 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average West Union Assessed Value
$134,740
Average Fayette County Assessed Value
$118,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Union, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52175 | $46,850 | $78,855 | $134,740 | $213,590 | $338,036 |
Source: Ownwell
Property Tax Bills Across West Union, Iowa
In West Union, located in Fayette County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to calculate the annual property tax bill. For instance, with a median home price of $134,740, homeowners can expect varying tax bills depending on their property's specific assessed value and any applicable exemptions. Several factors influence the tax bill, including the property's market value, improvements made, and any applicable local tax rates or exemptions. In West Union, the property tax bills range significantly: the 25th percentile tax bill stands at $1,048, while the 75th percentile reaches $2,722, and the 90th percentile climbs to $4,085. These figures highlight the variability in tax burdens based on property values and assessment details. Homeowners in West Union should be aware of these factors, as they directly impact their annual financial obligations. Comparing these local figures to the national median property tax rate of 0.99% provides a clearer picture of where West Union stands in terms of property tax burdens.
Average West Union Tax Bill
$1,732
Average Fayette County Tax Bill
$1,568
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across West Union, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52175 | $629 | $1,048 | $1,732 | $2,722 | $4,085 |
Source: Ownwell