Danbury, Iowa Property Taxes
The median property tax rate in Danbury, Iowa is 1.61%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Danbury at $143,580, the typical annual property tax bill reaches $2,122, which is below the national median of $2,690. Property taxes in Danbury 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 Danbury'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 Danbury or another part of Ida County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Danbury, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$2,312
Ownwell’s Danbury Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Danbury. With just two data points—your property's estimated assessed value and the median tax rate in Danbury—the calculator provides a quick estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to budget and plan. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county for tax calculations and may include applicable exemptions, ensuring you get an accurate estimate.
Property Tax Rates Across Danbury, Iowa
Property taxes in Danbury, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danbury is 1.61%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Danbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danbury 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 Danbury's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51019 zip code has the highest median property tax rate of 1.61%, while the same 51019 zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Danbury provides valuable insights into the varying tax landscape across Ida County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danbury Tax Rate
1.61%
Average Ida County Tax Rate
1.68%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | 1.11% | 1.19% | 1.61% | 1.93% | 3.24% |
Source: Ownwell
Property Tax Assessment Values Across Danbury, Iowa
In Danbury, 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 Ida County Appraisal District 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 Danbury, 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 Danbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the 51019 zip code are both $2,122.
Average Danbury Assessed Value
$143,580
Average Ida County Assessed Value
$93,540
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | $41,490 | $84,015 | $143,580 | $240,612 | $282,110 |
Source: Ownwell
Property Tax Bills Across Danbury, Iowa
In Danbury, located in Ida County, IA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. This value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Danbury might see varying tax bills depending on several factors, including the assessed value of their property and the specific tax rate applied. For instance, the median home price in Danbury is $143,580, and property tax bills can range significantly. At the 25th percentile, homeowners might pay around $1,542, while those at the 75th percentile could face bills as high as $3,309. The 90th percentile sees even steeper bills, reaching up to $4,094. Compared to the national median property tax rate of 0.99%, Danbury's rates can result in a substantial financial obligation for homeowners, impacting their overall cost of living and financial planning.
Average Danbury Tax Bill
$2,122
Average Ida County Tax Bill
$1,560
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | $1,095 | $1,542 | $2,122 | $3,309 | $4,094 |
Source: Ownwell