Donnellson, Iowa Property Taxes
The median property tax rate in Donnellson, IA is 1.19%, 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 $155,170 in Donnellson, the typical annual property tax bill amounts to $1,854, which is below the national median of $2,690. Property taxes in Donnellson are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Donnellson'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 Donnellson or another part of Lee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Donnellson, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,847
Ownwell’s Donnellson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Donnellson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Donnellson 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 Donnellson, Iowa
Property taxes in Donnellson, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Donnellson is 1.19%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Donnellson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Donnellson 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 Donnellson's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52625 zip code in Lee County has the same median property tax rate of 1.19%. Understanding how these cities compare with Donnellson provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Donnellson Tax Rate
1.19%
Average Lee County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Donnellson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52625 | 0.98% | 1.06% | 1.19% | 1.36% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Donnellson, Iowa
In Donnellson, 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 Lee 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 Donnellson, 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 Donnellson is $155,170, with tax bills ranging from $1,153 at the 25th percentile to $3,504 at the 90th percentile. The highest and lowest median tax bills in Donnellson are both $1,854, found in zip code 52625. 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 Donnellson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Donnellson Assessed Value
$155,170
Average Lee County Assessed Value
$99,640
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Donnellson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52625 | $45,332 | $96,798 | $155,170 | $226,540 | $309,667 |
Source: Ownwell
Property Tax Bills Across Donnellson, Iowa
In Donnellson, located in Lee County, IA, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. The median home price in Donnellson is $155,170, leading to varying tax bills across different percentiles. For example, the tax bill at the 25th percentile is $1,153, while at the 75th percentile, it rises to $2,654, and at the 90th percentile, it reaches $3,504. The highest and lowest median tax bills both stand at $1,854 in the zip code 52625. Compared to the national median property tax rate of 0.99%, Donnellson's tax rates can significantly impact homeowners, affecting their annual financial planning and overall housing costs. Understanding these factors can help residents anticipate their property tax obligations more accurately.
Average Donnellson Tax Bill
$1,854
Average Lee County Tax Bill
$1,604
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Donnellson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52625 | $548 | $1,153 | $1,854 | $2,654 | $3,504 |
Source: Ownwell