Waucoma, Iowa Property Taxes
The median property tax rate in Waucoma, IA is 1.08%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Waucoma at $247,245, the typical annual property tax bill is $2,626, which is just below the national median of $2,690. Property taxes in Waucoma are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Waucoma'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 Waucoma or another part of Howard County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waucoma, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,670
Ownwell’s Waucoma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waucoma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waucoma 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 Waucoma, Iowa
Property taxes in Waucoma, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waucoma is 1.28%, significantly higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Waucoma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waucoma 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 Waucoma's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52171 zip code has the highest median property tax rate of 1.28%, while the same zip code has the lowest median tax rate of 1.28%. Understanding how these cities compare with Waucoma provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waucoma Tax Rate
1.08%
Average Howard County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waucoma, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52171 | 1.02% | 1.04% | 1.08% | 1.11% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Waucoma, Iowa
In Waucoma, 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 Howard 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 Waucoma, 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 Waucoma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Waucoma is $247,245, with the highest and lowest median tax bills both recorded at $2,626 in the 52171 zip code.
Average Waucoma Assessed Value
$247,245
Average Howard County Assessed Value
$120,780
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waucoma, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52171 | $206,505 | $221,782 | $247,245 | $272,708 | $287,985 |
Source: Ownwell
Property Tax Bills Across Waucoma, Iowa
In Waucoma, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the Howard County Assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's age, size, location, and any improvements made. Homeowners in Waucoma can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $2,442, while those in the 75th percentile pay approximately $2,810. At the higher end, the 90th percentile tax bill reaches $2,920. The highest and lowest median tax bills in the area both stand at $2,626, reflecting a relatively consistent rate across different neighborhoods. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Although the tax rate in Waucoma may seem high compared to the national median property tax rate of 0.99%, it ensures the community receives necessary services and amenities.
Average Waucoma Tax Bill
$2,626
Average Howard County Tax Bill
$1,672
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Waucoma, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52171 | $2,332 | $2,442 | $2,626 | $2,810 | $2,920 |
Source: Ownwell