Wilton, Iowa Property Taxes
The median property tax rate in Wilton, IA is 1.69%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Wilton, the typical annual property tax bill reaches $2,706, exceeding the national median of $2,690. Property taxes in Wilton are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wilton'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 Wilton 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
Wilton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$2,778
Ownwell’s WILTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WILTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WILTON 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 Wilton, Iowa
Property taxes in Wilton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilton is 1.69%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Wilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilton 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 Wilton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52778 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Wilton provides valuable insights into the varying tax landscape across Muscatine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilton Tax Rate
1.69%
Average Muscatine County Tax Rate
1.67%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52778 | 1.27% | 1.64% | 1.69% | 1.77% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Wilton, Iowa
In Wilton, 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 Muscatine 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 Wilton, 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 Wilton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 52778, where the median tax bill is $2,706.
Average Wilton Assessed Value
$164,360
Average Muscatine County Assessed Value
$148,385
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52778 | $71,529 | $123,925 | $164,360 | $217,285 | $284,467 |
Source: Ownwell
Property Tax Bills Across Wilton, Iowa
In Wilton, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Wilton can expect varying tax bills depending on several factors, including the property's size, location, and any applicable exemptions. For example, the median home price in Wilton is $164,360. Homeowners here face a median property tax bill of $2,706, which is significantly higher than the national median property tax rate of 0.99%. This discrepancy highlights the importance of understanding local tax rates and their impact on overall tax obligations. Tax bills can range widely; the 25th percentile tax bill is $2,034, while the 75th percentile reaches $3,498, and the 90th percentile can go up to $4,425. These figures illustrate how property taxes can significantly affect homeowners' annual expenses, making it crucial for residents to stay informed and consider potential appeals or exemptions to manage their tax liabilities effectively.
Average Wilton Tax Bill
$2,706
Average Muscatine County Tax Bill
$2,396
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52778 | $1,134 | $2,034 | $2,706 | $3,498 | $4,425 |
Source: Ownwell