Keota, Iowa Property Taxes
The median property tax rate in Keota, 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 $127,280 in Keota, the typical annual property tax bill amounts to $1,640, significantly below the national median of $2,690. Property taxes in Keota are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Keota's property tax system, taking advantage of available exemptions, and seeking opportunities for reductions can result in notable annual savings. Whether you reside in the center of Keota or elsewhere in Keokuk County, gaining a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Keota, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,718
Ownwell’s Keota Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keota with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keota 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 Keota, Iowa
Property taxes in Keota, Iowa, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Keota is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Keota set these rates annually, and they can vary across different neighborhoods. Each year, Keota 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 Keota's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52248 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 areas compare with Keota 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 Keota Tax Rate
1.35%
Average Keokuk County Tax Rate
1.25%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keota, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52248 | 0.99% | 1.20% | 1.35% | 1.50% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Keota, Iowa
In Keota, 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 Keokuk 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 Keota, 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 Keota helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Keota is $1,640 in the 52248 zip code, which also has the lowest median tax bill at the same amount.
Average Keota Assessed Value
$127,280
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 Keota, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52248 | $44,422 | $80,630 | $127,280 | $186,460 | $260,625 |
Source: Ownwell
Property Tax Bills Across Keota, Iowa
In Keota, located in Keokuk County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects the market value of the property. Homeowners in Keota face varying tax bills depending on several factors, including property size, location, and any applicable exemptions. The median home price in Keota is $127,280. For a typical homeowner, the property tax bill can range significantly. At the 25th percentile, the tax bill is around $1,028, while at the 75th percentile, it reaches approximately $2,420. For those at the 90th percentile, the bill can go as high as $3,441. These figures show a broad range, highlighting how different factors can impact the final tax amount. Comparatively, Keota's property tax rate aligns closely with the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Keota Tax Bill
$1,640
Average Keokuk County Tax Bill
$1,284
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Keota, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52248 | $593 | $1,028 | $1,640 | $2,420 | $3,441 |
Source: Ownwell