Kellerton, Iowa Property Taxes
The median property tax rate in Kellerton, IA is 1.66%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Kellerton, the typical annual property tax bill reaches $2,571, slightly below the national median of $2,690. Property taxes in Kellerton 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 Kellerton'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 Kellerton 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
Kellerton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$2,566
Ownwell’s Kellerton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kellerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kellerton 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 Kellerton, Iowa
Property taxes in Kellerton, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Kellerton is 1.66%, notably higher than the U.S. national median of 0.99%. Local government entities within Kellerton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kellerton 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 Kellerton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50133 zip code has the highest median property tax rate of 1.66%, while the same zip code also has the lowest median tax rate of 1.66%. Understanding how these cities compare with Kellerton provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kellerton Tax Rate
1.66%
Average Decatur County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kellerton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50133 | 1.66% | 1.66% | 1.66% | 1.67% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Kellerton, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kellerton, Iowa. 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 Kellerton, 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. For example, the median home price in Kellerton is $154,600, with tax bills ranging from $1,966 at the 25th percentile to $3,538 at the 90th percentile. The highest and lowest median tax bills in the area are both $2,571, found in the 50133 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kellerton Assessed Value
$154,600
Average Decatur County Assessed Value
$57,520
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kellerton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50133 | $96,237 | $118,123 | $154,600 | $191,078 | $212,964 |
Source: Ownwell
Property Tax Bills Across Kellerton, Iowa
In Kellerton, Decatur County, 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 Kellerton can expect their property tax bills to vary significantly depending on the assessed value of their homes. For instance, the 25th percentile tax bill is around $1,966, while those in the 75th percentile can see bills as high as $3,176. The 90th percentile tax bill can reach up to $3,538. Factors considered in determining the tax bill include the property's location, size, and condition. Compared to the national median property tax rate of 0.99%, the tax rates in Kellerton may seem high, but they are reflective of the local government's funding needs for public services such as schools, infrastructure, and emergency services. Homeowners should be aware of these factors as they can significantly impact their annual expenses.
Average Kellerton Tax Bill
$2,571
Average Decatur County Tax Bill
$928
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Kellerton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50133 | $1,604 | $1,966 | $2,571 | $3,176 | $3,538 |
Source: Ownwell