Woodburn, Iowa Property Taxes
The median property tax rate in Woodburn, IA is 1.84%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Woodburn at $91,415, the typical annual property tax bill reaches $1,762, which is below the national median of $2,690. Property taxes in Woodburn are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Woodburn'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 Woodburn 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
Woodburn, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$1,682
Ownwell’s Woodburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodburn 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 Woodburn, Iowa
Property taxes in Woodburn, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodburn is 1.84%, significantly higher than the U.S. national median of 0.99%. Local government entities within Woodburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodburn 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 Woodburn's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50275 zip code has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Woodburn provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodburn Tax Rate
1.84%
Average Clarke County Tax Rate
1.89%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodburn, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50275 | 1.27% | 1.63% | 1.84% | 2.14% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Woodburn, Iowa
In Woodburn, 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 Clarke 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 Woodburn, 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 Woodburn 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 $1762, found in the 50275 zip code, while the lowest median tax bill also stands at $1762 in the same zip code.
Average Woodburn Assessed Value
$91,415
Average Clarke County Assessed Value
$115,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodburn, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50275 | $13,985 | $35,670 | $91,415 | $170,655 | $260,845 |
Source: Ownwell
Property Tax Bills Across Woodburn, Iowa
In Woodburn, 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 is meant to reflect the market value of the property. Homeowners in Woodburn face a median property tax rate of 1.93%, which is significantly higher than the national median of 0.99%. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For instance, the median home price in Woodburn is $91,415, resulting in varying tax bills. The 25th percentile tax bill is $689, while the 75th percentile tax bill is $3,045, and the 90th percentile tax bill reaches up to $4,614. These property taxes fund essential local services such as schools, public safety, and infrastructure. High property tax rates can impact homeowners by increasing their annual expenses, making it crucial to understand and potentially appeal assessed values to ensure fair taxation.
Average Woodburn Tax Bill
$1,762
Average Clarke County Tax Bill
$2,187
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodburn, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50275 | $322 | $689 | $1,762 | $3,045 | $4,614 |
Source: Ownwell