Dows, Iowa Property Taxes
The median property tax rate in Dows, IA is 1.35%, considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Dows at $94,500, the typical annual property tax bill reaches $1,237, which is below the national median of $2,690. Property taxes in Dows 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 Dows' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dows or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dows, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,276
Ownwell’s Dows Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dows with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dows 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 Dows, Iowa
Property taxes in Dows, Iowa, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Dows is 1.35%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Dows set these rates annually, and they can vary across different neighborhoods. Each year, Dows 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 Dows' effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 50071 has the highest median property tax rate of 1.35%, while the lowest median tax rate in the same zip code is also 1.35%. Understanding how these figures compare with Dows provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dows Tax Rate
1.35%
Average Franklin County Tax Rate
1.64%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dows, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50071 | 1.02% | 1.15% | 1.35% | 1.66% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Dows, Iowa
In Dows, 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 Franklin 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 Dows, 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 Dows helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Dows is $1,237 in the 50071 zip code, while the lowest median tax bill is also $1,237 in the same zip code.
Average Dows Assessed Value
$94,500
Average Franklin County Assessed Value
$103,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dows, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50071 | $4,400 | $37,600 | $94,500 | $174,800 | $261,900 |
Source: Ownwell
Property Tax Bills Across Dows, Iowa
In Dows, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the Franklin County Assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $94,500, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Dows may see tax bills ranging from $420 at the 25th percentile to as high as $3,477 at the 90th percentile. The median tax bill in the area is $1,237, which is higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, affecting their annual budgeting and overall financial planning. Understanding these factors can help homeowners better prepare for their property tax obligations.
Average Dows Tax Bill
$1,237
Average Franklin County Tax Bill
$1,653
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Dows, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50071 | $76 | $420 | $1,237 | $2,331 | $3,477 |
Source: Ownwell