Fort Atkinson, Iowa Property Taxes
The median property tax rate in Fort Atkinson, IA is 1.17%, 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 $184,035 in Fort Atkinson, the typical annual property tax bill amounts to $1,899, falling below the national median of $2,690. Property taxes in Fort Atkinson are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Fort Atkinson's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you reside in the heart of Fort Atkinson or another part of the city, gaining insights into the local property tax system will be beneficial.
Last Updated June 14, 2024
Fort Atkinson, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$2,153
Ownwell’s FORT ATKINSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT ATKINSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT ATKINSON 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 Fort Atkinson, Iowa
Property taxes in Fort Atkinson, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Atkinson is 1.55%, significantly higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Fort Atkinson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Atkinson 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 Fort Atkinson's effective property tax rate to other counties in Iowa and the national median. For comparison, the highest median property tax rate in the region is also 1.55%, while the lowest median tax rate is 1.55%. Understanding how these cities compare with Fort Atkinson provides valuable insights into the varying tax landscape across Winneshiek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Atkinson Tax Rate
1.17%
Average Fayette County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Atkinson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | 0.86% | 0.90% | 1.17% | 1.26% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Fort Atkinson, Iowa
In Fort Atkinson, 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 Fayette 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 Fort Atkinson, 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 instance, the median home price in Fort Atkinson is $184,035, with tax bills ranging from $1,170 at the 25th percentile to $4,046 at the 90th percentile. Notably, the zip code 52144 has both the highest and lowest median tax bill at $1,899. 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 Fort Atkinson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Atkinson Assessed Value
$184,035
Average Fayette County Assessed Value
$118,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Atkinson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | $94,813 | $120,880 | $184,035 | $272,108 | $374,485 |
Source: Ownwell
Property Tax Bills Across Fort Atkinson, Iowa
In Fort Atkinson, property tax bills are calculated based on the assessed value of a home, which is determined annually by local assessors. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. Additionally, market trends and recent sales of comparable properties in the area play a crucial role. For instance, with a median home price of $184,035, homeowners in Fort Atkinson can expect varied tax bills. The 25th percentile tax bill is around $1,170, while the 75th percentile tax bill reaches approximately $2,893. These property taxes fund essential local services such as schools, public safety, and infrastructure. While the tax rate in Fort Atkinson may be higher or lower than the national median of 0.99%, understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Fort Atkinson Tax Bill
$1,899
Average Fayette County Tax Bill
$1,568
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Atkinson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | $913 | $1,170 | $1,899 | $2,893 | $4,046 |
Source: Ownwell