Brighton, Iowa Property Taxes
The median property tax rate in Brighton, IA is 1.48%, which is considerably higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With a median home value of $105,450 in Brighton, the typical annual property tax bill reaches $1,533, which is below the national median of $2,690. Property taxes in Brighton are calculated 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 Brighton'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 Brighton or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brighton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$1,561
Ownwell’s Brighton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brighton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brighton 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 Brighton, Iowa
Property taxes in Brighton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brighton is 1.48%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Brighton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brighton 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 Brighton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52540 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Brighton provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brighton Tax Rate
1.48%
Average Washington County Tax Rate
1.51%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brighton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52540 | 1.21% | 1.31% | 1.48% | 1.66% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Brighton, Iowa
In Brighton, 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 Washington County Appraisal District 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. Assessment notices in Brighton 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. With a median home price of $105,450, Brighton's property taxes can vary significantly. The 25th percentile tax bill is $803, while the 75th percentile tax bill is $2,190, and the 90th percentile tax bill reaches $2,995. Notably, the highest and lowest median tax bills are both $1,533 in zip code 52540. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brighton Assessed Value
$105,450
Average Washington County Assessed Value
$175,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brighton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52540 | $24,570 | $58,900 | $105,450 | $153,025 | $222,910 |
Source: Ownwell
Property Tax Bills Across Brighton, Iowa
In Brighton, Washington County, IA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median property tax rate in Brighton is 1.45%, significantly higher than the national median of 0.99%. To determine your tax bill, the local tax authority assesses your property’s value, which may differ from its market value. For instance, with a median home price of $105,450, homeowners can expect a median tax bill of approximately $1,533. Factors influencing the tax bill include property size, location, and any improvements made. Homeowners in the 25th percentile face tax bills around $803, while those in the 75th percentile pay about $2,190. At the 90th percentile, tax bills can reach up to $2,995. These property taxes fund essential local services like schools, public safety, and infrastructure. Therefore, understanding how your property tax is calculated can help you anticipate annual costs and budget accordingly.
Average Brighton Tax Bill
$1,533
Average Washington County Tax Bill
$2,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Brighton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52540 | $396 | $803 | $1,533 | $2,190 | $2,995 |
Source: Ownwell