Plainfield, Iowa Property Taxes
The median property tax rate in Plainfield, IA is 1.06%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Plainfield at $235,150, the typical annual property tax bill is $2,100, falling below the national median of $2,690. Property taxes in Plainfield are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Plainfield'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 Plainfield 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
Plainfield, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,493
Ownwell’s Plainfield Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with an easy way to estimate annual property taxes in Plainfield using 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 valuable 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, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainfield is 1.06%, higher than both the Iowa state median and 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 1.06%, while the 50666 zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Plainfield provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plainfield Tax Rate
1.06%
Average Butler County Tax Rate
1.42%
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 | 0.97% | 1.00% | 1.06% | 1.14% | 1.30% |
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 Butler 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. The median home price in Plainfield is $235,150, with tax bills ranging from $1,684 at the 25th percentile to $5,538 at the 90th percentile. The zip code 50666 has both the highest and lowest median tax bills at $2,100. 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.
Average Plainfield Assessed Value
$235,150
Average Butler County Assessed Value
$143,820
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 | $130,700 | $175,540 | $235,150 | $333,730 | $466,910 |
Source: Ownwell
Property Tax Bills Across Plainfield, Iowa
In Plainfield, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in Plainfield can expect their property taxes to be influenced by factors such as the property's size, location, and improvements. The median home price in Plainfield is $235,150, with property tax bills varying significantly. For instance, the 25th percentile tax bill is $1,684, while the 75th percentile tax bill reaches $3,820. The 90th percentile tax bill can go as high as $5,538, indicating a wide range of property tax obligations depending on the property's assessed value. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax rates. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting homeowners by contributing to community development and maintenance.
Average Plainfield Tax Bill
$2,100
Average Butler County Tax Bill
$1,964
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 | $1,348 | $1,684 | $2,100 | $3,820 | $5,538 |
Source: Ownwell