Wheatland, Iowa Property Taxes
The median property tax rate in Wheatland, IA is 0.91%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $257,950 in Wheatland, the typical annual property tax bill amounts to $2,345, falling below the national median of $2,690. Property taxes in Wheatland are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Wheatland'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 Wheatland or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheatland, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$2,347
Ownwell’s Wheatland Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Wheatland with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wheatland to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more localized information, scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Wheatland, Iowa
Property taxes in Wheatland, Iowa, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheatland is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities in Wheatland set these rates annually, and they can vary across different neighborhoods. Each year, Wheatland 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 Wheatland's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52777 zip code has both the highest and lowest median property tax rate in the area, standing at 0.91%. Understanding how these cities compare with Wheatland 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 Wheatland Tax Rate
0.91%
Average Scott County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheatland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52777 | 0.84% | 0.87% | 0.91% | 0.95% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Wheatland, Iowa
In Wheatland, 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 Wheatland, 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 Wheatland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wheatland are both $2345, specifically in the 52777 zip code.
Average Wheatland Assessed Value
$257,950
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 Wheatland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52777 | $254,630 | $255,875 | $257,950 | $260,025 | $261,270 |
Source: Ownwell
Property Tax Bills Across Wheatland, Iowa
In Wheatland, IA, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate. The median home price in Wheatland is $257,950, and the property tax rate in the area is reflective of the county's needs and budget requirements. Homeowners in Wheatland can expect their property tax bills to vary depending on the assessed value of their property. For example, the tax bill at the 25th percentile is around $2,220, while at the 75th percentile, it rises to approximately $2,470. The tax bill at the 90th percentile is about $2,546. These figures indicate that property taxes can have a significant impact on household budgets, with higher-value homes shouldering a larger portion of the tax burden. Comparing these figures to the national median property tax rate of 0.99%, Wheatland's property tax bills are relatively consistent, ensuring that homeowners contribute fairly to the community's public services and infrastructure.
Average Wheatland Tax Bill
$2,345
Average Scott County Tax Bill
$2,966
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheatland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52777 | $2,144 | $2,220 | $2,345 | $2,470 | $2,546 |
Source: Ownwell