Andover, Iowa Property Taxes
The median property tax rate in Andover, IA is 1.50%, slightly lower than the Iowa state median of 1.54% but still higher than the national median of 0.99%. With the median home value in Andover, the typical annual property tax bill reaches $1,786, which is below the national median of $2,690. Property taxes in Andover are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Andover'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 Andover or another part of Clinton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Andover, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$1,812
Ownwell’s Andover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Andover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Andover 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 Clinton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Andover, Iowa
Property taxes in Andover, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Andover is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within Andover set these rates annually, and they can vary across different neighborhoods. Each year, Andover 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 Andover's effective property tax rate to other areas in Clinton County and the national median. For comparison, the zip code 52701 has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Andover provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Andover Tax Rate
1.50%
Average Clinton County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Andover, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52701 | 1.35% | 1.44% | 1.50% | 1.62% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Andover, Iowa
In Andover, 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 Clinton County Assessor's Office 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 Andover, 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 Andover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52701 has the highest median tax bill at $1,786, while the lowest is also in the same zip code, indicating a consistent range within the area.
Average Andover Assessed Value
$120,800
Average Clinton County Assessed Value
$133,420
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Andover, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52701 | $47,550 | $80,685 | $120,800 | $159,470 | $225,240 |
Source: Ownwell
Property Tax Bills Across Andover, Iowa
In Andover, Clinton County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Andover is $120,800, which serves as a baseline for these calculations. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. The tax bill can vary significantly; for instance, the 25th percentile tax bill is $1,179, while the 75th percentile tax bill reaches $2,344. At the higher end, the 90th percentile tax bill can go up to $3,458. Compared to the national median property tax rate of 0.99%, Andover's rates reflect the local economic conditions and funding needs for public services. These taxes directly impact homeowners by contributing to the funding of schools, infrastructure, and other essential community services, ultimately affecting the overall cost of homeownership.
Average Andover Tax Bill
$1,786
Average Clinton County Tax Bill
$2,178
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Andover, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52701 | $720 | $1,179 | $1,786 | $2,344 | $3,458 |
Source: Ownwell