Alton, Iowa Property Taxes
The median property tax rate in Alton, IA is 0.81%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $328,615 in Alton, the typical annual property tax bill amounts to $3,270, surpassing the national median of $2,690. Property taxes in Alton 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 Alton'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 Alton 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
Alton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,662
Ownwell’s Alton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alton 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 Alton, Iowa
Property taxes in Alton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alton is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Alton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alton 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 Alton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51003 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Alton provides valuable insights into the varying tax landscape across Plymouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alton Tax Rate
0.81%
Average Plymouth County Tax Rate
1.13%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51003 | 0.80% | 0.80% | 0.81% | 0.90% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Alton, Iowa
In Alton, 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 Plymouth 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 Alton, 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 Alton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Alton is 51003, with a median tax bill of $3,270.
Average Alton Assessed Value
$328,615
Average Plymouth County Assessed Value
$198,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51003 | $76,569 | $191,422 | $328,615 | $437,400 | $501,120 |
Source: Ownwell
Property Tax Bills Across Alton, Iowa
In Alton, located in Plymouth County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property location, size, and improvements play a significant role in determining the assessed value. For homeowners in Alton, the tax bills can vary significantly. The median home price in the area is $328,615, with property tax bills ranging from the 25th percentile at $2,958 to the 90th percentile at $4,727. The median property tax rate in Alton is notably higher than the national median of 0.99%, reflecting the specific fiscal needs and policies of the local government. These property taxes fund essential community services such as schools, public safety, and infrastructure. As a result, homeowners in Alton contribute to the overall well-being and development of their community through their property tax payments.
Average Alton Tax Bill
$3,270
Average Plymouth County Tax Bill
$2,246
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Alton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51003 | $2,398 | $2,958 | $3,270 | $3,790 | $4,727 |
Source: Ownwell