Eldridge, Iowa Property Taxes
The median property tax rate in Eldridge, IA is 1.15%, 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 $279,500 in Eldridge, the typical annual property tax bill amounts to $3,058, surpassing the national median of $2,690. Property taxes in Eldridge are calculated based on the tax assessed value, which is usually lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Eldridge'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 Eldridge 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
Eldridge, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$3,214
Ownwell’s Eldridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eldridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eldridge 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 Eldridge, Iowa
Property taxes in Eldridge, Iowa, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eldridge is 1.15%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Eldridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eldridge 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 Eldridge's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52748 zip code has the highest median property tax rate of 1.15%, while the 52748 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Eldridge provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eldridge Tax Rate
1.15%
Average Scott County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eldridge, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52748 | 0.96% | 1.05% | 1.15% | 1.22% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Eldridge, Iowa
In Eldridge, 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 Scott 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 Eldridge, 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 Eldridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Eldridge is $3,058 in the 52748 zip code, while the lowest median tax bill is also $3,058 in the same zip code.
Average Eldridge Assessed Value
$279,500
Average Scott County Assessed Value
$184,110
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eldridge, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52748 | $130,900 | $198,000 | $279,500 | $398,400 | $492,880 |
Source: Ownwell
Property Tax Bills Across Eldridge, Iowa
In Eldridge, located in Scott County, 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. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For instance, the median home price in Eldridge is $279,500. Homeowners in the 25th percentile can expect a tax bill around $2,222, while those in the 75th percentile may see bills closer to $4,564. At the 90th percentile, tax bills can reach up to $5,812. The highest median tax bill recorded in the area is $3,058. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Eldridge Tax Bill
$3,058
Average Scott County Tax Bill
$2,966
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Eldridge, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52748 | $1,548 | $2,222 | $3,058 | $4,564 | $5,812 |
Source: Ownwell