Jefferson, Iowa Property Taxes
The median property tax rate in Jefferson, IA is 1.42%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Jefferson at $130,900, the typical annual property tax bill reaches $1,752, surpassing the national median of $2,690. Property taxes in Jefferson are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Jefferson'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 Jefferson 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
Jefferson, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,859
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, Iowa
Property taxes in Jefferson, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other areas in Iowa and the national median. For comparison, the 50129 zip code has the highest median property tax rate of 1.42%, while the same zip code has the lowest median tax rate of 1.42%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
1.42%
Average Greene County Tax Rate
1.35%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50129 | 1.04% | 1.22% | 1.42% | 1.56% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Jefferson, 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 Greene 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 Jefferson, 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. The median home price in Jefferson is $130,900, with tax bills ranging from $1,006 at the 25th percentile to $3,927 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 50129, at $1,752. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jefferson Assessed Value
$130,900
Average Greene County Assessed Value
$113,750
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50129 | $41,800 | $77,550 | $130,900 | $188,700 | $271,280 |
Source: Ownwell
Property Tax Bills Across Jefferson, Iowa
In Jefferson, located in Greene County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners then pay a percentage of this assessed value as their property tax. The median home price in Jefferson is $130,900, with property tax bills varying significantly across different percentiles. For instance, the 25th percentile tax bill is $1,006, while the 75th percentile reaches up to $2,744, and the 90th percentile can be as high as $3,927. These figures illustrate the range of property tax burdens homeowners may face, influenced by factors such as property size, location, and improvements. The highest median tax bill in Jefferson is $1,752, which is notably higher than the national median property tax rate of 0.99%. This variability in tax bills can significantly impact homeowners' financial planning and overall cost of living in the area.
Average Jefferson Tax Bill
$1,752
Average Greene County Tax Bill
$1,434
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50129 | $536 | $1,006 | $1,752 | $2,744 | $3,927 |
Source: Ownwell