Whiting, Iowa Property Taxes
The median property tax rate in Whiting, IA is 1.00%, slightly higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With a median home value of $168,890 in Whiting, the typical annual property tax bill amounts to $1,681, which is below the national median of $2,690. Property taxes in Whiting are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Whiting'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 Whiting 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
Whiting, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,689
Ownwell’s Whiting Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whiting with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whiting 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 Whiting, Iowa
Property taxes in Whiting, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whiting is 1.00%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Whiting set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whiting 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 Whiting's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51063 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Whiting provides valuable insights into the varying tax landscape across Woodbury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whiting Tax Rate
1.00%
Average Woodbury County Tax Rate
1.52%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whiting, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51063 | 0.99% | 0.99% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Whiting, Iowa
In Whiting, 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 Woodbury 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. In Whiting, 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. The median home price in Whiting is $168,890, with the median tax bill ranging from $1,679 at the 25th percentile to $1,683 at the 90th percentile. The zip code 51063 holds both the highest and lowest median tax bills at $1,681. 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 Whiting helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Whiting Assessed Value
$168,890
Average Woodbury County Assessed Value
$157,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whiting, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51063 | $167,594 | $168,080 | $168,890 | $169,700 | $170,186 |
Source: Ownwell
Property Tax Bills Across Whiting, Iowa
In Whiting, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the tax rate set by various taxing authorities, including county, city, and school districts. For instance, in Woodbury County, where Whiting is located, the median home price is $168,890. Homeowners in Whiting can expect their property tax bills to fall within a narrow range, with the 25th, 75th, and 90th percentiles all hovering around $1681 to $1683. This consistency indicates a stable tax environment for residents. Compared to the national median property tax rate of 0.99%, Whiting’s property tax rate results in a comparable annual tax bill, which can be a significant factor for homeowners when budgeting for annual expenses. Understanding these components helps homeowners anticipate their tax obligations and plan accordingly, ensuring they are prepared for this essential aspect of homeownership.
Average Whiting Tax Bill
$1,681
Average Woodbury County Tax Bill
$2,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Whiting, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51063 | $1,679 | $1,679 | $1,681 | $1,682 | $1,683 |
Source: Ownwell