Waukon, Iowa Property Taxes
The median property tax rate in Waukon, IA is 1.40%, which is significantly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $163,200 in Waukon, the typical annual property tax bill amounts to $2,135, which is below the national median of $2,690. Property taxes in Waukon 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 Waukon'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 Waukon 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
Waukon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,285
Ownwell’s Waukon Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waukon with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Waukon to provide an accurate estimate of your property tax bill. This helps you understand your potential tax liabilities better. For those interested in more granular insights, scroll down to explore neighborhood-level trends. Your property’s assessed value, determined by Allamakee County, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Waukon, Iowa
Property taxes in Waukon, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waukon is 1.40%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Waukon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waukon 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 Waukon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52172 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Waukon 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 Waukon Tax Rate
1.40%
Average Allamakee County Tax Rate
1.22%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waukon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52172 | 0.87% | 0.98% | 1.40% | 1.53% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Waukon, Iowa
In Waukon, 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 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 Waukon, 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 Waukon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Waukon is $2,135 in the 52172 zip code, while the lowest median tax bill is also $2,135 in the same zip code. With a median home price of $163,200, property owners can compare their tax bills to these figures to better understand their own tax obligations.
Average Waukon Assessed Value
$163,200
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 Waukon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52172 | $69,020 | $112,600 | $163,200 | $247,100 | $349,260 |
Source: Ownwell
Property Tax Bills Across Waukon, Iowa
In Waukon, located in Allamakee County, IA, property tax bills are calculated based on the assessed value of a home rather than its market value. This assessed value is determined by the county assessor and is used as the basis for calculating the property tax bill. The median home price in Waukon is $163,200, which influences the overall tax obligation. Homeowners in this area can expect their tax bills to vary, with the 25th percentile paying around $1,445 and the 75th percentile seeing bills of approximately $3,025. For those at the higher end of the spectrum, the 90th percentile tax bill reaches up to $4,250. These figures are relatively high compared to the national median property tax rate of 0.99%, reflecting local funding needs and community services. Understanding these factors is crucial for homeowners as they plan their financial obligations. High property taxes can impact household budgets, making it essential for homeowners to stay informed about their property's assessed value and any potential changes in local tax rates.
Average Waukon Tax Bill
$2,135
Average Allamakee County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Waukon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52172 | $878 | $1,445 | $2,135 | $3,025 | $4,250 |
Source: Ownwell