Kirkville, Iowa Property Taxes
The median property tax rate in Kirkville, IA is 1.18%, 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 $36,085 in Kirkville, the typical annual property tax bill amounts to $411, significantly below the national median of $2,690. Property taxes in Kirkville are determined based on the tax assessed value, which is usually less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Kirkville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kirkville or elsewhere in Wapello County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kirkville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$426
Ownwell’s Kirkville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kirkville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kirkville 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 Kirkville, Iowa
Property taxes in Kirkville, Iowa, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kirkville is 1.18%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Kirkville set these rates annually, and they can vary considerably across different neighborhoods. Each year, Kirkville 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 Kirkville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52566 zip code has both the highest and lowest median property tax rate of 1.18%. Understanding how these cities compare with Kirkville 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 Kirkville Tax Rate
1.18%
Average Wapello County Tax Rate
1.66%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kirkville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52566 | 0.86% | 1.01% | 1.18% | 1.30% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Kirkville, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kirkville, IA. The market value represents 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 county's 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 Kirkville, 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. The median home price in Kirkville is $36,085, with tax bills ranging from $216 at the 25th percentile to $1,490 at the 90th percentile. The zip code 52566 has both the highest and lowest median tax bill at $411. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kirkville Assessed Value
$36,085
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 Kirkville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52566 | $4,185 | $18,762 | $36,085 | $80,815 | $129,385 |
Source: Ownwell
Property Tax Bills Across Kirkville, Iowa
In Kirkville, located in Wapello County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Kirkville is $36,085. To determine the tax bill, the assessed value is multiplied by the local tax rate. Homeowners in Kirkville experience a range of property tax bills, with the 25th percentile paying around $216 and the 75th percentile paying approximately $882. For those in the 90th percentile, tax bills can reach up to $1,490. Factors influencing the tax bill include the property's assessed value and the local tax rate. The assessed value is influenced by the property's market value, location, and condition. Compared to the national median property tax rate of 0.99%, Kirkville's tax rates reflect the local economic conditions and funding needs for public services. These tax bills directly impact homeowners by influencing their annual financial obligations and potentially affecting property values and marketability.
Average Kirkville Tax Bill
$411
Average Wapello County Tax Bill
$1,372
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Kirkville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52566 | $62 | $216 | $411 | $882 | $1,490 |
Source: Ownwell