Webb, Iowa Property Taxes
The median property tax rate in Webb, Iowa is 1.17%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Webb at $84,875, the typical annual property tax bill reaches $1,022, slightly below the national median of $2,690. Property taxes in Webb 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 Webb'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 Webb 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
Webb, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$993
-$10,407
Ownwell’s Webb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Webb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Webb 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 Webb, Iowa
Property taxes in Webb, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Webb is 1.41%, significantly higher than both the Iowa state median of 1.43% and the U.S. national median of 0.99%. Local government entities within Webb set these rates annually, and they can vary significantly across different neighborhoods. Each year, Webb 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 Webb's effective property tax rate to other counties in Iowa and the national median. For comparison, the ZIP code 50552 has the highest median property tax rate of 1.41%, while ZIP code 50552 has the lowest median tax rate of 1.41%. Understanding how these cities compare with Webb provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Webb Tax Rate
1.17%
Average Clay County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Webb, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51366 | 0.86% | 1.01% | 1.17% | 1.32% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Webb, Iowa
In Webb, 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 local 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 Webb, 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. The median home price in Webb is $84,875, with tax bills ranging from $444 at the 25th percentile to $2,803 at the 90th percentile. The zip code with the highest and lowest median tax bill is 51366, both at $1,022. Being aware of these valuation processes in Webb helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Webb Assessed Value
$84,875
Average Clay County Assessed Value
$145,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Webb, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51366 | $14,340 | $36,812 | $84,875 | $168,528 | $263,949 |
Source: Ownwell
Property Tax Bills Across Webb, Iowa
In Webb, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Webb is $84,875, and the tax rate is applied to this assessed value to determine the annual tax bill. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Webb can expect their tax bills to vary significantly, with the 25th percentile tax bill at $444 and the 75th percentile tax bill reaching $1,888. For those at the higher end, the 90th percentile tax bill can go up to $2,803. These property taxes are crucial for funding local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Webb's property taxes reflect the unique economic and real estate conditions of the area, impacting homeowners differently based on their property’s assessed value.
Average Webb Tax Bill
$1,022
Average Clay County Tax Bill
$1,910
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Webb, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51366 | $128 | $444 | $1,022 | $1,888 | $2,803 |
Source: Ownwell