Maquoketa, Iowa Property Taxes
The median property tax rate in Maquoketa, IA is 1.35%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $137,500 in Maquoketa, the typical annual property tax bill amounts to $1,794, which is below the national median of $2,690. Property taxes in Maquoketa are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Maquoketa's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Maquoketa or another part of Jackson County, gaining insights into the local property tax system will be beneficial.
Last Updated June 14, 2024
Maquoketa, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,856
Ownwell’s Maquoketa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maquoketa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maquoketa 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 Maquoketa, Iowa
Property taxes in Maquoketa, Iowa, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Maquoketa is 1.35%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Maquoketa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maquoketa 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 Maquoketa's effective property tax rate to other areas in Iowa and the national median. For comparison, the 52060 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Maquoketa provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maquoketa Tax Rate
1.35%
Average Jackson County Tax Rate
1.24%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maquoketa, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52060 | 0.93% | 1.07% | 1.35% | 1.52% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Maquoketa, Iowa
In Maquoketa, 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 Jackson 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 Maquoketa, 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 Maquoketa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Maquoketa are both $1794, found in zip code 52060.
Average Maquoketa Assessed Value
$137,500
Average Jackson County Assessed Value
$157,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maquoketa, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52060 | $58,490 | $90,250 | $137,500 | $221,075 | $332,610 |
Source: Ownwell
Property Tax Bills Across Maquoketa, Iowa
In Maquoketa, located in Jackson County, IA, property tax bills are determined by a combination of the assessed value of your home and the local tax rate. The median home price in this area is $137,500. To calculate the tax bill, the assessed value of the property is multiplied by the local tax rate. For example, homeowners in the 25th percentile can expect to pay around $1,226, while those in the 75th percentile might see bills closer to $2,722. The 90th percentile of tax bills can reach up to $3,836. Several factors influence the final tax bill, including property characteristics, local government budgets, and specific exemptions or deductions for which a homeowner may qualify. Compared to the national median property tax rate of 0.99%, Maquoketa's property tax rates can vary significantly, impacting homeowners' annual financial planning. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances effectively.
Average Maquoketa Tax Bill
$1,794
Average Jackson County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Maquoketa, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52060 | $790 | $1,226 | $1,794 | $2,722 | $3,836 |
Source: Ownwell