Dunlap, Iowa Property Taxes
The median property tax rate in Dunlap, IA is 1.22%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $158,291 in Dunlap, the typical annual property tax bill reaches $1,810, which is below the national median of $2,690. Property taxes in Dunlap are calculated based on the tax assessed value, typically lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Dunlap'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 Dunlap 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
Dunlap, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,931
Ownwell’s Dunlap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunlap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunlap 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 Dunlap, Iowa
Property taxes in Dunlap, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunlap is 1.22%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dunlap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunlap 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 Dunlap's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51529 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Dunlap provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunlap Tax Rate
1.22%
Average Monona County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunlap, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51529 | 1.02% | 1.07% | 1.22% | 1.45% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Dunlap, Iowa
In Dunlap, 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 Monona 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 Dunlap, 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. The median home price in Dunlap is $158,291, with property tax bills ranging from $922 at the 25th percentile to $3,880 at the 90th percentile. The highest median tax bill in the area is $1,810, found in the 51529 zip code, which also has the lowest median tax bill at the same amount. 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 Dunlap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dunlap Assessed Value
$158,291
Average Monona County Assessed Value
$94,166
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunlap, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51529 | $53,530 | $71,911 | $158,291 | $278,722 | $377,194 |
Source: Ownwell
Property Tax Bills Across Dunlap, Iowa
In Dunlap, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Monona County, where Dunlap is located, the median home price is approximately $158,291. Homeowners in Dunlap can expect their property tax bills to vary significantly; for instance, the tax bill at the 25th percentile is around $922, while at the 75th percentile, it rises to about $3,157. The tax bill at the 90th percentile can reach up to $3,880. These figures indicate a broad range of property tax burdens, reflecting differences in property values and exemptions. Comparatively, the national median property tax rate is 0.99%, and Dunlap's property tax rates can be both higher and lower depending on individual property assessments. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Dunlap Tax Bill
$1,810
Average Monona County Tax Bill
$1,186
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunlap, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51529 | $773 | $922 | $1,810 | $3,157 | $3,880 |
Source: Ownwell