Danbury, Iowa Property Taxes
The median property tax rate in Danbury, IA is 1.06%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $248,989 in Danbury, the typical annual property tax bill amounts to $2,634, slightly below the national median of $2,690. Property taxes in Danbury are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Danbury'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 Danbury or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Danbury, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,639
Ownwell’s Danbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danbury 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 Danbury, Iowa
Property taxes in Danbury, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danbury is 1.06%, significantly higher than the U.S. national median of 0.99%. Local government entities within Danbury set these rates annually, and they can vary across different neighborhoods. Each year, Danbury 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 Danbury's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51019 has both the highest and the lowest median property tax rate of 1.06%. Understanding how these figures compare with Danbury provides valuable insights into the varying tax landscape across Monona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danbury Tax Rate
1.06%
Average Monona County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | 0.94% | 0.98% | 1.06% | 1.10% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Danbury, Iowa
In Danbury, 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 local appraisal authorities 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 Danbury, 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 Danbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Danbury are both $2634, found in the 51019 zip code.
Average Danbury Assessed Value
$248,989
Average Monona County Assessed Value
$94,166
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | $173,832 | $209,837 | $248,989 | $412,367 | $573,282 |
Source: Ownwell
Property Tax Bills Across Danbury, Iowa
In Danbury, Monona 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. Homeowners in Danbury experience a range of property tax bills, with the 25th percentile paying around $2,046 and the 75th percentile facing bills up to $4,546. The 90th percentile sees tax bills as high as $5,542. The median home price in Danbury is $248,989, and the property tax rate significantly impacts homeowners’ annual expenses. For context, the national median property tax rate is 0.99%. Danbury's property taxes can be a substantial part of a homeowner's budget, influencing decisions on home purchases and financial planning. The highest and lowest median tax bills in the area both stand at $2,634, indicating uniformity in property tax assessments within the specific zip code 51019. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Danbury Tax Bill
$2,634
Average Monona County Tax Bill
$1,186
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | $2,020 | $2,046 | $2,634 | $4,546 | $5,542 |
Source: Ownwell