Plainfield, Iowa Property Taxes
The median property tax rate in Plainfield, IA is 1.17%, which is significantly higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With a median home value of $137,420 in Plainfield, the typical annual property tax bill amounts to $1,732, falling below the national median of $2,690. Property taxes in Plainfield are calculated based on the assessed value, which is often less than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Plainfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Plainfield or another part of Bremer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Plainfield, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,608
Ownwell’s Plainfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plainfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainfield 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 Plainfield, Iowa
Property taxes in Plainfield, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainfield is 1.17%, higher than the U.S. national median of 0.99%. Local government entities within Plainfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainfield 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 Plainfield's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50666 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Plainfield 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 Plainfield Tax Rate
1.17%
Average Bremer County Tax Rate
1.48%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plainfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50666 | 0.90% | 0.96% | 1.17% | 1.48% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Plainfield, Iowa
In Plainfield, 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 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 Plainfield, 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 Plainfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,732 in the 50666 zip code, while the lowest is also $1,732 in the same zip code.
Average Plainfield Assessed Value
$137,420
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 Plainfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50666 | $57,160 | $87,270 | $137,420 | $211,640 | $285,336 |
Source: Ownwell
Property Tax Bills Across Plainfield, Iowa
In Plainfield, Bremer County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value typically reflects a percentage of the property's market value. For homeowners in Plainfield, the median home price stands at $137,420. Property tax bills can vary significantly, with the 25th percentile paying around $1,133, while those in the 75th percentile see bills around $2,306. The highest tax bills, falling in the 90th percentile, can reach up to $2,935. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, homeowners in Plainfield may find their tax obligations relatively moderate, depending on their property's value and specific circumstances.
Average Plainfield Tax Bill
$1,732
Average Bremer County Tax Bill
$2,696
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Plainfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50666 | $757 | $1,133 | $1,732 | $2,306 | $2,935 |
Source: Ownwell