Clarence, Iowa Property Taxes
The median property tax rate in Clarence, IA is 1.17%, 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 Clarence at $157,560, the typical annual property tax bill reaches $1,798, falling below the national median of $2,690. Property taxes in Clarence are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Clarence'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 Clarence 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
Clarence, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,843
Ownwell’s Clarence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarence 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 Clarence, Iowa
Property taxes in Clarence, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarence is 1.17%, which is higher than the U.S. national median of 0.99%. Local government entities within Clarence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarence 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 Clarence's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52216 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 Clarence provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarence Tax Rate
1.17%
Average Cedar County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarence, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52216 | 1.01% | 1.09% | 1.17% | 1.25% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Clarence, Iowa
In Clarence, 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 Cedar 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 Clarence, 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 Clarence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52216 has the median tax bill at $1,798, reflecting the typical property tax scenario in the area.
Average Clarence Assessed Value
$157,560
Average Cedar County Assessed Value
$186,910
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarence, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52216 | $71,808 | $111,530 | $157,560 | $217,725 | $287,592 |
Source: Ownwell
Property Tax Bills Across Clarence, Iowa
In Clarence, property tax bills are calculated based on the assessed value of a home, which is determined by the Cedar County assessor. The assessed value is a percentage of the property's market value, and this percentage can vary. Homeowners in Clarence typically see property tax bills ranging from $1,274 at the 25th percentile to $3,289 at the 90th percentile, reflecting the varying home values and tax rates within the area. To determine the final tax bill, the assessed value is multiplied by the local tax rate. The median home price in Clarence is $157,560, which means the property tax bill for a median-priced home is often around the county's median tax bill of $1,798. This is higher than the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and local government budgets can also influence the assessed value and, consequently, the tax bill. These property taxes fund essential services like schools, infrastructure, and public safety, directly impacting homeowners and their community.
Average Clarence Tax Bill
$1,798
Average Cedar County Tax Bill
$2,390
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarence, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52216 | $842 | $1,274 | $1,798 | $2,560 | $3,289 |
Source: Ownwell