Clearfield, Iowa Property Taxes
The median property tax rate in Clearfield, IA is 1.25%, 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 $170,318 in Clearfield, the typical annual property tax bill amounts to $1,798, which is below the national median of $2,690. Property taxes in Clearfield are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Clearfield'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 Clearfield 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
Clearfield, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$2,129
Ownwell’s Clearfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clearfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clearfield 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 Clearfield, Iowa
Property taxes in Clearfield, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clearfield is 1.25%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Clearfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clearfield 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 Clearfield's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50840 zip code has the highest median property tax rate of 1.25%, while the 50840 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Clearfield provides valuable insights into the varying tax landscape across Ringgold County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clearfield Tax Rate
1.25%
Average Ringgold County Tax Rate
1.44%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clearfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50840 | 1.11% | 1.17% | 1.25% | 1.26% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Clearfield, Iowa
In Clearfield, 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 Ringgold 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 Clearfield, 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. Clearfield’s median home price is $170,318, with tax bills ranging from $1,494 at the 25th percentile to $3,093 at the 90th percentile. The zip code 50840 has both the highest and lowest median tax bill of $1,798. Being aware of these valuation processes in Clearfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clearfield Assessed Value
$170,318
Average Ringgold County Assessed Value
$101,674
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clearfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50840 | $101,424 | $118,570 | $170,318 | $221,183 | $245,379 |
Source: Ownwell
Property Tax Bills Across Clearfield, Iowa
In Clearfield, Ringgold County, IA, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is a percentage of the market value of the home. For instance, if the median home price in Clearfield is $170,318, the assessed value would be a fraction of this amount, depending on local assessment rates. Once the assessed value is established, the property tax rate is applied to calculate the tax bill. In Clearfield, the median property tax rate is 0.99%, which aligns with the national median. For homeowners, this means a median tax bill of approximately $1,798 annually, given the assessed value and tax rate. However, tax bills can vary significantly. For example, the 25th percentile tax bill is $1,494, while the 75th percentile reaches $2,768, and the 90th percentile can go up to $3,093. These variations depend on factors such as property location, improvements, and local levies. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Clearfield Tax Bill
$1,798
Average Ringgold County Tax Bill
$1,488
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Clearfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50840 | $1,348 | $1,494 | $1,798 | $2,768 | $3,093 |
Source: Ownwell