Decorah, Iowa Property Taxes
The median property tax rate in Decorah, IA is 0.95%, slightly below the national median of 0.99% but significantly lower than the Iowa state median of 1.54%. With the median home value in Decorah at $154,400, the typical annual property tax bill amounts to $1,480, which is well below the national median of $2,690. Property taxes in Decorah 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 Decorah'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 Decorah 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
Decorah, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,467
Ownwell’s Decorah Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Decorah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decorah to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Decorah, Iowa
Property taxes in Decorah, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Decorah is 0.95%, slightly lower than the U.S. national median of 0.99%. Local government entities within Decorah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decorah 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 Decorah's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52101 zip code has the highest median property tax rate of 0.95%, while the same 52101 zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Decorah provides valuable insights into the varying tax landscape across Allamakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decorah Tax Rate
0.95%
Average Allamakee County Tax Rate
1.22%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decorah, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52101 | 0.71% | 0.83% | 0.95% | 1.09% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Decorah, Iowa
In Decorah, 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 Allamakee 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 Decorah, 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 Decorah is $154,400, with property tax bills ranging from $673 at the 25th percentile to $3,086 at the 90th percentile. Interestingly, the zip code 52101 has both the highest and lowest median tax bills at $1,480. 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 Decorah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Decorah Assessed Value
$154,400
Average Allamakee County Assessed Value
$156,300
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decorah, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52101 | $52,360 | $69,000 | $154,400 | $206,700 | $298,460 |
Source: Ownwell
Property Tax Bills Across Decorah, Iowa
In Decorah, located in Allamakee County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Decorah is $154,400. To calculate the property tax bill, the assessed value is multiplied by the local property tax rate. Various factors such as property location, improvements, and market conditions influence the assessed value. For homeowners in Decorah, the property tax bill can vary significantly. The 25th percentile tax bill is $673, while the 75th percentile reaches $2,084, and the 90th percentile can be as high as $3,086. Comparatively, the highest median tax bill in the area is $1,480, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential services like public education, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Homeowners must budget for these taxes as part of their annual expenses, ensuring they remain in good standing with local tax authorities.
Average Decorah Tax Bill
$1,480
Average Allamakee County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Decorah, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52101 | $446 | $673 | $1,480 | $2,084 | $3,086 |
Source: Ownwell