Keosauqua, Iowa Property Taxes
The median property tax rate in Keosauqua, IA is 1.03%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Keosauqua at $118,640, the typical annual property tax bill amounts to $1,234, which is below the national median of $2,690. Property taxes in Keosauqua are based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Keosauqua'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 Keosauqua or another part of Van Buren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Keosauqua, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,222
Ownwell’s Keosauqua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keosauqua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keosauqua 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 Keosauqua, Iowa
Property taxes in Keosauqua, Iowa, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Keosauqua stands at 1.03%, which is higher than the U.S. national median of 0.99%. Local government entities within Keosauqua set these rates annually, and they can vary across different neighborhoods. Each year, Keosauqua 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 Keosauqua's effective property tax rate to other areas in Van Buren County and the national median. For comparison, the zip code 52565 has both the highest and lowest median property tax rate of 1.03%. Understanding how these areas compare with Keosauqua provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keosauqua Tax Rate
1.03%
Average Van Buren County Tax Rate
1.04%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keosauqua, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52565 | 0.82% | 0.93% | 1.03% | 1.14% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Keosauqua, Iowa
In Keosauqua, 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 Van Buren 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 Keosauqua, 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 25th percentile tax bill in Keosauqua is $691, while the 75th percentile tax bill is $1881, and the 90th percentile tax bill reaches $2646. The highest and lowest median tax bills are both recorded at $1234 in the 52565 zip code. 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 Keosauqua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Keosauqua Assessed Value
$118,640
Average Van Buren County Assessed Value
$93,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keosauqua, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52565 | $36,116 | $67,845 | $118,640 | $183,585 | $257,020 |
Source: Ownwell
Property Tax Bills Across Keosauqua, Iowa
Property tax bills in Keosauqua, located in Van Buren County, Iowa, are calculated based on the assessed value of a property, which is then multiplied by the local tax rate. The median home price in Keosauqua is $118,640, and property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including property size, location, and improvements made to the property. For homeowners in Keosauqua, the 25th percentile tax bill is approximately $691, while the 75th percentile tax bill reaches $1881. At the 90th percentile, homeowners can expect to pay around $2646. These figures provide a range of what residents might pay, depending on their property's assessed value and other factors. Compared to the national median property tax rate of 0.99%, Keosauqua's property tax bills reflect the local economic conditions and property values. Homeowners in this region need to be aware of how these assessments and rates impact their annual expenses, as property taxes represent a significant component of homeownership costs.
Average Keosauqua Tax Bill
$1,234
Average Van Buren County Tax Bill
$987
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Keosauqua, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52565 | $316 | $691 | $1,234 | $1,881 | $2,646 |
Source: Ownwell