Fenton, Iowa Property Taxes
The median property tax rate in Fenton, Iowa is 0.88%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Fenton at $146,460, the typical annual property tax bill is $1,467, falling below the national median of $2,690. Property taxes in Fenton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fenton'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 Fenton 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
Fenton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,289
Ownwell’s Fenton Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Fenton with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Fenton to provide an accurate estimate of your property tax bill. This valuable tool offers clarity on potential tax liabilities, helping you make informed decisions. For those looking to explore trends at a more granular level, additional localized information is available below. Your property’s assessed value is determined by Palo Alto County for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Fenton, Iowa
Property taxes in Fenton, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fenton is 0.88%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Fenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fenton 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 Fenton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50539 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Fenton provides valuable insights into the varying tax landscape across Palo Alto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fenton Tax Rate
0.88%
Average Palo Alto County Tax Rate
1.26%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fenton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50539 | 0.72% | 0.80% | 0.88% | 1.24% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Fenton, Iowa
In Fenton, 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 Palo Alto 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 Fenton, 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 Fenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50539, with a tax bill of $1,467, while the lowest median tax bill is also in the same zip code, illustrating a uniform tax landscape.
Average Fenton Assessed Value
$146,460
Average Palo Alto County Assessed Value
$111,265
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fenton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50539 | $68,684 | $108,025 | $146,460 | $238,000 | $370,300 |
Source: Ownwell
Property Tax Bills Across Fenton, Iowa
Property tax bills in Fenton, located in Palo Alto County, IA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Fenton experience a range of tax bills, with the 25th percentile at $1,071 and the 75th percentile at $2,224. The 90th percentile tax bill reaches up to $3,342, indicating that higher-value properties incur significantly higher taxes. Factors influencing the tax bill include property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Fenton's tax rates can vary widely, impacting homeowners differently based on their property’s assessed value. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly affecting the quality of life for residents. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Fenton Tax Bill
$1,467
Average Palo Alto County Tax Bill
$1,364
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fenton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50539 | $669 | $1,071 | $1,467 | $2,224 | $3,342 |
Source: Ownwell