Strawberry Point, Iowa Property Taxes
The median property tax rate in Strawberry Point, IA is 1.04%, 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 $216,390, the typical annual property tax bill in Strawberry Point is $2,142, which is below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Strawberry Point's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Strawberry Point or another part of Fayette County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Strawberry Point, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,250
Ownwell’s Strawberry Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strawberry Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strawberry Point 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 Strawberry Point, Iowa
Property taxes in Strawberry Point, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Strawberry Point is 1.33%, significantly higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Strawberry Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strawberry Point 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 Strawberry Point's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52076 has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Strawberry Point provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Strawberry Point Tax Rate
1.04%
Average Fayette County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Strawberry Point, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52076 | 0.93% | 0.96% | 1.04% | 1.09% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Strawberry Point, Iowa
In Strawberry Point, 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 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 Strawberry Point, 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 Strawberry Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2142, found in zip code 52076.
Average Strawberry Point Assessed Value
$216,390
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 Strawberry Point, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52076 | $144,375 | $161,630 | $216,390 | $234,168 | $330,690 |
Source: Ownwell
Property Tax Bills Across Strawberry Point, Iowa
In Strawberry Point, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Strawberry Point is $216,390. Homeowners at the 25th percentile can expect a tax bill of around $1,614, while those at the 75th percentile might see a bill closer to $2,502. High-value properties, like those in the 90th percentile, could face tax bills as high as $3,652. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the home. Compared to the national median property tax rate of 0.99%, the rates in Strawberry Point can significantly impact homeowners' annual expenses. Understanding these factors is crucial for homeowners to anticipate their financial obligations and plan accordingly.
Average Strawberry Point Tax Bill
$2,142
Average Fayette County Tax Bill
$1,568
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Strawberry Point, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52076 | $1,500 | $1,614 | $2,142 | $2,502 | $3,652 |
Source: Ownwell