Washta, Iowa Property Taxes
The median property tax rate in Washta, IA is 1.23%, 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 Washta at $156,000, the typical annual property tax bill reaches $2,226, which is below the national median of $2,690. Property taxes in Washta are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Washta'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 Washta 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
Washta, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,919
Ownwell’s Washta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washta 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 Washta, Iowa
Property taxes in Washta, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washta is 1.23%, notably higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Washta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washta 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 Washta's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51061 has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these areas compare with Washta 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 Washta Tax Rate
1.23%
Average Ida County Tax Rate
1.68%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51061 | 1.05% | 1.08% | 1.23% | 2.06% | 2.95% |
Source: Ownwell
Property Tax Assessment Values Across Washta, Iowa
In Washta, 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 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 Washta, 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 Washta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 51061, with a median tax bill of $2,226.
Average Washta Assessed Value
$156,000
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 Washta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51061 | $65,380 | $117,970 | $156,000 | $243,550 | $323,890 |
Source: Ownwell
Property Tax Bills Across Washta, Iowa
In Washta, located in Ida 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, who evaluates the property's market value and applies an assessment ratio to arrive at the taxable value. This taxable value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Washta experience a range of property tax bills. For instance, the 25th percentile tax bill is $1,591, while the 75th percentile reaches $2,979. The 90th percentile tax bill is notably higher at $3,884. These figures highlight the variability in tax burdens depending on the property's assessed value and specific location within the city. Compared to the national median property tax rate of 0.99%, Washta's tax bills reflect local economic conditions and funding requirements for public services. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Washta Tax Bill
$2,226
Average Ida County Tax Bill
$1,560
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Washta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51061 | $1,136 | $1,591 | $2,226 | $2,979 | $3,884 |
Source: Ownwell