Brayton, Iowa Property Taxes
The median property tax rate in Brayton, IA is 1.24%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $94,820 in Brayton, the typical annual property tax bill is $1,224, which is below the national median of $2,690. Property taxes in Brayton are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Brayton'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 Brayton 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
Brayton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,176
Ownwell’s Brayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brayton 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 Audubon County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brayton, Iowa
Property taxes in Brayton, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brayton is 1.24%, notably higher than the U.S. national median of 0.99%. Local government entities within Brayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brayton 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 Brayton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50042 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these areas compare with Brayton provides valuable insights into the varying tax landscape across Audubon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brayton Tax Rate
1.24%
Average Audubon County Tax Rate
1.32%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brayton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50042 | 0.88% | 1.02% | 1.24% | 1.59% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Brayton, Iowa
In Brayton, 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 Audubon 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 Brayton, 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 Brayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Brayton is 50042, with a tax bill of $1,224.
Average Brayton Assessed Value
$94,820
Average Audubon County Assessed Value
$103,200
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brayton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50042 | $25,912 | $51,030 | $94,820 | $146,720 | $202,888 |
Source: Ownwell
Property Tax Bills Across Brayton, Iowa
In Brayton, located in Audubon County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Brayton can expect a median home price of $94,820. Property tax bills can vary significantly, with the 25th percentile at $646 and the 75th percentile at $1,734, reflecting differences in property values and applicable exemptions. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in the area is $1,224, while the lowest is also $1,224, indicating a consistent tax rate within the same zip code, 50042. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Comparing these figures to the national median property tax rate of 0.99%, Brayton's rates offer a useful benchmark for evaluating local property tax obligations.
Average Brayton Tax Bill
$1,224
Average Audubon County Tax Bill
$1,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Brayton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50042 | $300 | $646 | $1,224 | $1,734 | $2,559 |
Source: Ownwell