Dexter, Iowa Property Taxes
The median property tax rate in Dexter, IA is 1.15%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $149,510 in Dexter, the typical annual property tax bill is around $1,671, which is below the national median of $2,690. Property taxes in Dexter are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dexter'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 Dexter or another part of Dallas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dexter, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,719
Ownwell’s Dexter Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dexter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dexter 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 Dallas County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dexter, Iowa
Property taxes in Dexter, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dexter is 1.25%, higher than both the Iowa state median of 1.43% and the U.S. national median of 0.99%. Local government entities within Dexter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dexter 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 Dexter's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50070 zip code has the highest median property tax rate of 1.25%, while the same 50070 zip code has the lowest median tax rate of 1.25%. Understanding how these cities compare with Dexter provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dexter Tax Rate
1.15%
Average Dallas County Tax Rate
1.62%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dexter, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50070 | 0.86% | 1.09% | 1.15% | 1.22% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Dexter, Iowa
In Dexter, 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 Dallas 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 Dexter, 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 Dexter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Dexter is $1671 in the 50070 zip code, which is also the lowest median tax bill in the area.
Average Dexter Assessed Value
$149,510
Average Dallas County Assessed Value
$264,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dexter, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50070 | $22,114 | $91,250 | $149,510 | $202,515 | $269,000 |
Source: Ownwell
Property Tax Bills Across Dexter, Iowa
In Dexter, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's size, age, location, and overall condition. Additionally, market trends and recent sales of comparable properties in the area are considered. For homeowners in Dexter, the median home price is $149,510. The property tax rate in Dallas County is higher than the national median of 0.99%. This means that homeowners can expect a significant tax bill, with the 25th percentile tax bill at $996 and the 75th percentile reaching $2,223. For those in the 90th percentile, the tax bill can be as high as $2,963. These taxes fund essential local services such as schools, roads, and emergency services, directly impacting the community's quality of life.
Average Dexter Tax Bill
$1,671
Average Dallas County Tax Bill
$3,638
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Dexter, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50070 | $240 | $996 | $1,671 | $2,223 | $2,963 |
Source: Ownwell