Klemme, Iowa Property Taxes
The median property tax rate in Klemme, IA is 1.08%, slightly higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With a median home value of $84,575 in Klemme, the typical annual property tax bill is $886, which is below the national median of $2,690. Property taxes in Klemme 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 Klemme'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 Klemme or another part of Hancock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Klemme, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$913
Ownwell’s Klemme Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Klemme using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Klemme to provide an estimated property tax bill. This user-friendly tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, scroll down for more localized information. Your property’s assessed value is determined by Hancock County for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Klemme, Iowa
Property taxes in Klemme, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Klemme is 1.08%, significantly higher than both the Iowa state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Klemme set these rates annually, and they can vary across different neighborhoods. Each year, Klemme 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 Klemme's effective property tax rate to other areas in Iowa and the national median. For comparison, the 50449 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Klemme provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Klemme Tax Rate
1.08%
Average Hancock County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Klemme, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50449 | 0.88% | 0.99% | 1.08% | 1.20% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Klemme, Iowa
In Klemme, 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 Hancock 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 Klemme, 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 Klemme helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Klemme are both $886, found in the zip code 50449.
Average Klemme Assessed Value
$84,575
Average Hancock County Assessed Value
$129,985
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Klemme, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50449 | $18,264 | $42,700 | $84,575 | $131,408 | $208,828 |
Source: Ownwell
Property Tax Bills Across Klemme, Iowa
In Klemme, located in Hancock County, IA, property tax bills are based on the assessed value of homes, which is determined by local assessors. The median home price in Klemme is $84,575, and property tax rates are applied to this assessed value to calculate the tax bill. The tax bills in Klemme vary significantly, with the 25th percentile tax bill at $490 and the 75th percentile tax bill reaching $1,374. At the 90th percentile, homeowners may see tax bills as high as $2,335. Several factors influence property tax bills, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in the area is $886, which is the same for both the highest and lowest median tax bills in the zip code 50449. Compared to the national median property tax rate of 0.99%, homeowners in Klemme experience a range of tax burdens, affecting their overall housing costs and financial planning.
Average Klemme Tax Bill
$886
Average Hancock County Tax Bill
$1,680
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Klemme, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50449 | $234 | $490 | $886 | $1,374 | $2,335 |
Source: Ownwell