Burt, Iowa Property Taxes
The median property tax rate in Burt, IA is 1.37%, 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 Burt at $62,484, the typical annual property tax bill is $957, significantly below the national median of $2,690. Property taxes in Burt are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burt's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Burt or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burt, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$856
Ownwell’s BURT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BURT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BURT 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 Burt, Iowa
Property taxes in Burt, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burt is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Burt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burt 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 Burt's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50522 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these areas compare with Burt provides valuable insights into the varying tax landscape across Kossuth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burt Tax Rate
1.37%
Average Kossuth County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50522 | 0.87% | 1.08% | 1.37% | 1.67% | 3.12% |
Source: Ownwell
Property Tax Assessment Values Across Burt, Iowa
In Burt, 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 Kossuth 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 Burt, 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 example, the median home price in Burt is $62,484, with tax bills ranging from $482 at the 25th percentile to $2,520 at the 90th percentile. 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 Burt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burt Assessed Value
$62,484
Average Kossuth County Assessed Value
$85,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50522 | $13,623 | $32,768 | $62,484 | $93,806 | $166,630 |
Source: Ownwell
Property Tax Bills Across Burt, Iowa
In Burt, located in Kossuth County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Burt's property tax rate is relatively moderate when compared to the national median property tax rate of 0.99%. Homeowners in Burt can expect their property tax bills to vary significantly. For instance, those at the 25th percentile pay around $482 annually, while those at the 75th percentile see bills closer to $1,577. At the higher end, the 90th percentile tax bill reaches approximately $2,520. The median home price in Burt is $62,484, which influences the overall tax amount. These property taxes fund essential local services such as schools, public safety, and infrastructure. Consequently, homeowners benefit from well-maintained public amenities, although the tax burden can vary based on property values and individual assessments.
Average Burt Tax Bill
$957
Average Kossuth County Tax Bill
$1,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Burt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50522 | $250 | $482 | $957 | $1,577 | $2,520 |
Source: Ownwell