Weldon, Iowa Property Taxes
The median property tax rate in Weldon, IA is 1.18%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $51,559 in Weldon, the typical annual property tax bill amounts to $614, significantly below the national median of $2,690. Property taxes in Weldon are based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Weldon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Weldon or another part of Decatur County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weldon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$608
Ownwell’s Weldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weldon 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 Weldon, Iowa
Property taxes in Weldon, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weldon is 1.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within Weldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weldon 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 Weldon's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 50264 in Decatur County has the same median property tax rate of 1.18%. Understanding how these areas compare with Weldon 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 Weldon Tax Rate
1.18%
Average Decatur County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50264 | 0.54% | 0.82% | 1.18% | 1.64% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Weldon, Iowa
In Weldon, 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 Decatur County Assessor 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 Weldon, 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. The median home price in Weldon is $51,559, with tax bills ranging from $108 at the 25th percentile to $2,864 at the 90th percentile. The highest and lowest median tax bills are both $614, found in the 50264 zip code. 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 Weldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Weldon Assessed Value
$51,559
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 Weldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50264 | $2,210 | $6,275 | $51,559 | $116,342 | $198,805 |
Source: Ownwell
Property Tax Bills Across Weldon, Iowa
In Weldon, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Weldon is $51,559, and the property tax rate in Decatur County is reflective of the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's market value, any applicable exemptions, and local tax levies. Homeowners in Weldon can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $108, while the 75th percentile tax bill is $1,397, and the 90th percentile tax bill can go up to $2,864. This range demonstrates how different factors such as property improvements, neighborhood developments, and changes in local tax policies can impact the amount homeowners owe annually. Understanding these elements helps homeowners anticipate their financial obligations and plan accordingly.
Average Weldon Tax Bill
$614
Average Decatur County Tax Bill
$928
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Weldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50264 | $16 | $108 | $614 | $1,397 | $2,864 |
Source: Ownwell