Blakesburg, Iowa Property Taxes
The median property tax rate in Blakesburg, IA is 1.04%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $104,390 in Blakesburg, the typical annual property tax bill amounts to $1,224, which is below the national median of $2,690. Property taxes in Blakesburg are based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Blakesburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Blakesburg or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blakesburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,086
Ownwell’s Blakesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blakesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blakesburg 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 Blakesburg, Iowa
Property taxes in Blakesburg, IA, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blakesburg is 1.04%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Blakesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blakesburg 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 Blakesburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52536 zip code has the highest median property tax rate of 1.04%, while the 52536 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Blakesburg provides valuable insights into the varying tax landscape across Wapello County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blakesburg Tax Rate
1.04%
Average Wapello County Tax Rate
1.66%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blakesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52536 | 0.91% | 0.94% | 1.04% | 1.21% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Blakesburg, Iowa
In Blakesburg, 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 Wapello 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 Blakesburg, 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 Blakesburg 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 is 52536, with a median bill of $1,224.
Average Blakesburg Assessed Value
$104,390
Average Wapello County Assessed Value
$83,735
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blakesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52536 | $15,616 | $52,635 | $104,390 | $190,935 | $295,550 |
Source: Ownwell
Property Tax Bills Across Blakesburg, Iowa
In Blakesburg, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the Wapello County assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Blakesburg face varying tax bills depending on their property's assessed value and specific tax rate. For instance, the median home price in Blakesburg is $104,390. The property tax bills can range significantly. At the 25th percentile, homeowners might pay around $680 annually, while those at the 75th percentile could see bills as high as $1,986. The top 10% of tax bills even reach up to $2,814. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark to understand how Blakesburg's rates measure up. These tax bills impact homeowners by influencing their overall housing costs and potentially affecting their financial planning and homeownership affordability.
Average Blakesburg Tax Bill
$1,224
Average Wapello County Tax Bill
$1,372
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Blakesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52536 | $295 | $680 | $1,224 | $1,986 | $2,814 |
Source: Ownwell