Jewell, Iowa Property Taxes
The median property tax rate in Jewell, IA is 1.32%, notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Jewell, the typical annual property tax bill reaches $2,029, which is below the national median of $2,690. Property taxes in Jewell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Jewell'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 Jewell or another part of Hamilton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jewell, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$2,073
Ownwell’s Jewell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jewell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jewell 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 Jewell, Iowa
Property taxes in Jewell, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jewell is 1.32%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Jewell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jewell 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 Jewell's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50130 zip code has both the highest and lowest median property tax rate of 1.32%. Understanding how these cities compare with Jewell provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jewell Tax Rate
1.32%
Average Hamilton County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jewell, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50130 | 1.12% | 1.22% | 1.32% | 1.42% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Jewell, Iowa
In Jewell, 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 Hamilton 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 Jewell, 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 Jewell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Jewell is $2029 in the 50130 zip code, while the lowest median tax bill is also $2029 in the same zip code.
Average Jewell Assessed Value
$157,050
Average Hamilton County Assessed Value
$127,340
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jewell, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50130 | $62,194 | $102,130 | $157,050 | $247,220 | $356,096 |
Source: Ownwell
Property Tax Bills Across Jewell, Iowa
In Jewell, located in Hamilton 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 and reflects the market value of the property. Homeowners in Jewell can expect their tax bills to vary significantly depending on the value of their homes. For instance, the tax bill at the 25th percentile is $1,332, while it rises to $3,136 at the 75th percentile and can reach up to $4,484 at the 90th percentile. The median home price in Jewell is $157,050, and the property tax rate in Hamilton County is influenced by local government funding needs for services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Jewell's tax rates reflect the specific fiscal requirements of the community. These property taxes play a crucial role in maintaining the quality of life and services in the area, directly impacting homeowners' annual financial planning.
Average Jewell Tax Bill
$2,029
Average Hamilton County Tax Bill
$1,946
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Jewell, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50130 | $810 | $1,332 | $2,029 | $3,136 | $4,484 |
Source: Ownwell