Fremont, Iowa Property Taxes
The median property tax rate in Fremont, IA is 1.07%, 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 $161,710, the typical annual property tax bill in Fremont amounts to $1,794, falling below the national median of $2,690. Property taxes in Fremont are calculated based on the assessed value, which often comes in lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Fremont'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 Fremont or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fremont, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,730
Ownwell’s Fremont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fremont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fremont 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 Fremont, Iowa
Property taxes in Fremont, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fremont is 1.07%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Fremont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fremont 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 Fremont's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52561 zip code has the highest median property tax rate of 1.07%, while the 52561 zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Fremont provides valuable insights into the varying tax landscape across Keokuk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fremont Tax Rate
1.07%
Average Keokuk County Tax Rate
1.25%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fremont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52561 | 0.94% | 0.98% | 1.07% | 1.34% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Fremont, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fremont, Iowa. 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 Keokuk 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 Fremont, 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. For instance, the median home price in Fremont is $161,710, with tax bills ranging from $1,168 at the 25th percentile to $3,036 at the 90th percentile. The zip code 52561 has the highest and lowest median tax bill, both at $1,794. By understanding 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 Fremont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fremont Assessed Value
$161,710
Average Keokuk County Assessed Value
$102,671
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fremont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52561 | $91,640 | $110,063 | $161,710 | $251,366 | $262,106 |
Source: Ownwell
Property Tax Bills Across Fremont, Iowa
In Fremont, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Various factors influence this assessed value, including the property's location, size, and condition. For homeowners in Fremont, the median home price is $161,710. Tax bills can vary significantly; for instance, the 25th percentile tax bill is $1,168, while the 75th percentile tax bill is $2,522. Homeowners in the 90th percentile can expect to pay around $3,036. These figures highlight the range of property tax burdens in the area. Comparatively, the median property tax rate nationally is 0.99%, which can serve as a benchmark for understanding local tax implications. High property taxes can affect affordability and overall cost of living, making it essential for homeowners to stay informed about their property assessments and potential exemptions.
Average Fremont Tax Bill
$1,794
Average Keokuk County Tax Bill
$1,284
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fremont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52561 | $874 | $1,168 | $1,794 | $2,522 | $3,036 |
Source: Ownwell