Fremont, Iowa Property Taxes
The median property tax rate in Fremont, IA is 1.28%, which is 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 Fremont at $103,710, the typical annual property tax bill reaches $1,344, falling below the national median of $2,690. Property taxes in Fremont are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fremont'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 Fremont 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
Fremont, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,327
Ownwell’s Fremont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fremont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fremont 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 Fremont, Iowa
Property taxes in Fremont, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fremont is 1.28%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Fremont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fremont 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 Fremont's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52561 zip code has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Fremont provides valuable insights into the varying tax landscape across Mahaska County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fremont Tax Rate
1.28%
Average Mahaska County Tax Rate
1.54%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fremont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52561 | 1.03% | 1.16% | 1.28% | 1.44% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Fremont, Iowa
In Fremont, 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 Mahaska 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 Fremont, 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. For instance, the median home price in Fremont is $103,710, with tax bills ranging from $948 at the 25th percentile to $2,658 at the 90th percentile. Being aware of these valuation processes in Fremont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fremont Assessed Value
$103,710
Average Mahaska County Assessed Value
$125,860
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fremont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52561 | $35,658 | $69,240 | $103,710 | $156,480 | $228,840 |
Source: Ownwell
Property Tax Bills Across Fremont, Iowa
In Fremont, Mahaska County, IA, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value reflects the market value of the property, and the tax rate is applied to this value to calculate the tax bill. Currently, the national median property tax rate is 0.99%, but local rates can vary. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Fremont can expect tax bills to vary widely. For instance, the 25th percentile tax bill is $948, while the 75th percentile tax bill is $1874. At the higher end, the 90th percentile tax bill reaches $2658. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Therefore, understanding how property tax bills are calculated helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Fremont Tax Bill
$1,344
Average Mahaska County Tax Bill
$1,886
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fremont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52561 | $519 | $948 | $1,344 | $1,874 | $2,658 |
Source: Ownwell