Keswick, Iowa Property Taxes
The median property tax rate in Keswick, IA is 1.14%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Keswick at $95,240, the typical annual property tax bill amounts to $1,048, surpassing the national median of $2,690. Property taxes in Keswick are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. By understanding Keswick's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Keswick or another part of Keokuk County, gaining insight into the local property tax system is beneficial for all property owners.
Last Updated June 14, 2024
Keswick, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,086
Ownwell’s Keswick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keswick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keswick 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 Keswick, Iowa
Property taxes in Keswick, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keswick is 1.14%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Keswick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keswick 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 Keswick's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50136 has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Keswick provides valuable insights into the varying tax landscape across Keokuk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keswick Tax Rate
1.14%
Average Keokuk County Tax Rate
1.25%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keswick, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50136 | 0.91% | 1.01% | 1.14% | 1.26% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Keswick, Iowa
In Keswick, 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 Keokuk 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 Keswick, 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 Keswick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Keswick is $95,240, with annual property tax bills ranging from $632 at the 25th percentile to $3,034 at the 90th percentile. The zip code 50136 has both the highest and lowest median tax bills at $1,048.
Average Keswick Assessed Value
$95,240
Average Keokuk County Assessed Value
$102,671
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keswick, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50136 | $23,986 | $56,330 | $95,240 | $162,054 | $247,871 |
Source: Ownwell
Property Tax Bills Across Keswick, Iowa
Property tax bills in Keswick, located in Keokuk County, IA, are determined by the assessed value of a property multiplied by the local tax rate. The assessed value is an estimate of the property’s market value, which is periodically evaluated by the county assessor. The local tax rate is set by various taxing authorities, including the county, school districts, and other local entities. Several factors influence the final tax bill, including property size, location, and any improvements or modifications made to the property. For instance, the median home price in Keswick is $95,240. Homeowners in the 25th percentile can expect to pay around $632 annually, while those in the 75th percentile might see tax bills around $1,883. At the higher end, the 90th percentile tax bill reaches approximately $3,034. These property taxes fund essential community services such as schools, public safety, and infrastructure. Consequently, property taxes have a significant impact on homeowners, influencing both their monthly budgets and the overall affordability of their homes.
Average Keswick Tax Bill
$1,048
Average Keokuk County Tax Bill
$1,284
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Keswick, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50136 | $348 | $632 | $1,048 | $1,883 | $3,034 |
Source: Ownwell