Clayton, Iowa Property Taxes
The median property tax rate in Clayton, IA is 1.16%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Clayton at $164,404, the typical annual property tax bill reaches $1,810, falling below the national median of $2,690. Property taxes in Clayton 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 Clayton'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 Clayton 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
Clayton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,907
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, Iowa
Property taxes in Clayton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayton is 1.16%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52049 has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Clayton provides valuable insights into the varying tax landscape across Clayton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
1.16%
Average Clayton County Tax Rate
1.34%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52049 | 1.01% | 1.09% | 1.16% | 1.20% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, Iowa
In Clayton, 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 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 Clayton, 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 Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 52049, with a median tax bill of $1,810.
Average Clayton Assessed Value
$164,404
Average Clayton County Assessed Value
$133,780
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52049 | $68,093 | $97,950 | $164,404 | $247,152 | $296,343 |
Source: Ownwell
Property Tax Bills Across Clayton, Iowa
In Clayton, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $164,404, homeowners can expect their tax bill to vary widely. The tax bill at the 25th percentile is around $1,104, while at the 75th percentile, it rises to approximately $2,840. The 90th percentile sees tax bills reaching up to $3,551. Several factors influence the final tax bill, including the property's location within Clayton, any applicable exemptions, and the specific tax rate set by local taxing authorities. Homeowners in Clayton face a median property tax rate that can be compared to the national median rate of 0.99%. The highest and lowest median tax bills in Clayton are both $1,810, found in the 52049 zip code. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Clayton Tax Bill
$1,810
Average Clayton County Tax Bill
$1,792
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52049 | $729 | $1,104 | $1,810 | $2,840 | $3,551 |
Source: Ownwell