Jefferson, Iowa Property Taxes
The median property tax rate in Jefferson, IA is 1.13%, which is higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With the median home value in Jefferson at $288,800, the typical annual property tax bill reaches $3,256, surpassing the national median of $2,690. Property taxes in Jefferson are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the 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
1.13%
Estimate Property Tax Bill
$3,263
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, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 1.13%, notably higher than the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, which 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 zip code 50129 has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Jefferson provides valuable insights into the varying tax landscape across Guthrie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
1.13%
Average Guthrie County Tax Rate
1.18%
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 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Iowa
In Jefferson, Iowa, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value reflects 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 Guthrie 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. Being aware of these valuation processes in Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 50129 zip code, each amounting to $3,256.
Average Jefferson Assessed Value
$288,800
Average Guthrie County Assessed Value
$152,050
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 | $288,800 | $288,800 | $288,800 | $288,800 | $288,800 |
Source: Ownwell
Property Tax Bills Across Jefferson, Iowa
In Jefferson, located in Guthrie County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Jefferson, the median home price stands at $288,800. The tax bills in Jefferson are notably uniform, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $3,256. This consistency indicates a stable tax environment for residents. Compared to the national median property tax rate of 0.99%, Jefferson's rates can be considered relatively high, reflecting the local government's funding needs for public services such as schools, infrastructure, and emergency services. For homeowners, this means that owning property in Jefferson involves a predictable annual expense, which can aid in financial planning. However, the higher rates also underscore the importance of understanding how these taxes are allocated and the benefits they bring to the community.
Average Jefferson Tax Bill
$3,256
Average Guthrie County Tax Bill
$1,994
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 | $3,256 | $3,256 | $3,256 | $3,256 | $3,256 |
Source: Ownwell