Essex, Iowa Property Taxes
The median property tax rate in Essex, IA is 1.37%, notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $112,710 in Essex, the typical annual property tax bill amounts to $1,538, which is below the national median of $2,690. Property taxes in Essex are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Essex's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Understanding the local property tax system is advantageous for both homeowners and real estate investors, whether you're in the heart of Essex or another part of the city.
Last Updated June 14, 2024
Essex, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$1,544
Ownwell’s Essex Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate annual property taxes in Essex. By entering your property's estimated assessed value, the calculator uses the median tax rate in Essex to provide an accurate estimate of your property tax bill. This valuable tool helps you gauge potential tax liabilities effectively. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by the county, is essential for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Essex, Iowa
Property taxes in Essex, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Essex is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Essex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Essex 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 Essex's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51638 has both the highest and lowest median property tax rate of 1.37%. Understanding how these cities compare with Essex provides valuable insights into the varying tax landscape across Page County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Essex Tax Rate
1.37%
Average Page County Tax Rate
1.56%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Essex, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51638 | 1.08% | 1.16% | 1.37% | 1.50% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Essex, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Essex, Iowa. 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 Page 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 Essex, 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 highest median tax bill in Essex is $1,538, found in the 51638 zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Essex Assessed Value
$112,710
Average Page County Assessed Value
$100,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Essex, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51638 | $41,758 | $73,870 | $112,710 | $172,380 | $246,530 |
Source: Ownwell
Property Tax Bills Across Essex, Iowa
In Essex, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the size, age, and condition of the property, as well as recent sales of comparable homes in the area. For homeowners in Essex, the median home price stands at $112,710. Property tax bills in Essex range significantly, with the 25th percentile at $988 and the 75th percentile reaching $2,174. The 90th percentile tax bill can be as high as $2,988. These figures highlight the variability in tax burdens, which can impact homeowners' financial planning and overall affordability of their homes. Comparatively, Essex's property tax rates can be evaluated against the national median property tax rate of 0.99%, providing a context for understanding local tax burdens.
Average Essex Tax Bill
$1,538
Average Page County Tax Bill
$1,497
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Essex, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51638 | $530 | $988 | $1,538 | $2,174 | $2,988 |
Source: Ownwell