Denver, Iowa Property Taxes
The median property tax rate in Denver, IA is 1.42%, which is significantly 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 $236,695 in Denver, the typical annual property tax bill reaches $3,278, surpassing the national median of $2,690. Property taxes in Denver are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Denver'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 Denver 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
Denver, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$3,361
Ownwell’s Denver Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Denver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Denver 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 Denver, Iowa
Property taxes in Denver, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Denver is 1.42%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Denver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Denver 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 Denver's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50622 zip code has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Denver provides valuable insights into the varying tax landscape across Bremer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Denver Tax Rate
1.42%
Average Bremer County Tax Rate
1.48%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Denver, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50622 | 1.14% | 1.21% | 1.42% | 1.55% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Denver, Iowa
In Denver, 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 Bremer 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 Denver, 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 Denver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 50622 has the highest and lowest median tax bill at $3,278.
Average Denver Assessed Value
$236,695
Average Bremer County Assessed Value
$189,165
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Denver, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50622 | $111,402 | $172,175 | $236,695 | $345,925 | $445,254 |
Source: Ownwell
Property Tax Bills Across Denver, Iowa
In Denver, Bremer County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors such as property size, location, and market conditions are considered during the assessment process. For homeowners in Denver, the median home price is $236,695, leading to a wide range of tax bills. While the 25th percentile tax bill is around $2,518, the 75th percentile reaches $4,424, and the 90th percentile can go as high as $5,913. This variability means that homeowners with higher-valued properties will face significantly larger tax bills. Compared to the national median property tax rate of 0.99%, the tax rates in Denver reflect the specific needs and budgets of the local government. This system ensures that property taxes are fairly distributed, directly impacting the affordability and financial planning of homeowners in the area.
Average Denver Tax Bill
$3,278
Average Bremer County Tax Bill
$2,696
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Denver, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50622 | $1,712 | $2,518 | $3,278 | $4,424 | $5,913 |
Source: Ownwell