Keota, Iowa Property Taxes
The median property tax rate in Keota, IA is 1.12%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Keota, the typical annual property tax bill reaches $2,492, slightly below the national median of $2,690. Property taxes in Keota are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Keota'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 Keota or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Keota, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$2,464
Ownwell’s Keota Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Keota with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keota 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 Keota, Iowa
Property taxes in Keota, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keota is 1.12%, higher than the U.S. national median of 0.99%. Local government entities within Keota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keota 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 Keota's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52248 has both the highest and lowest median property tax rate of 1.12%. Understanding how these cities compare with Keota provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keota Tax Rate
1.12%
Average Washington County Tax Rate
1.51%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keota, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52248 | 1.01% | 1.06% | 1.12% | 1.20% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Keota, Iowa
In Keota, 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 Washington 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 Keota, 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 Keota 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 in Keota is 52248, with a median tax bill of $2492, which is significantly above the national median property tax rate of 0.99%.
Average Keota Assessed Value
$220,000
Average Washington County Assessed Value
$175,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keota, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52248 | $108,180 | $155,350 | $220,000 | $304,300 | $390,180 |
Source: Ownwell
Property Tax Bills Across Keota, Iowa
In Keota, Washington County, IA, property tax bills are determined by evaluating the assessed value of a home and applying the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated by the county assessor. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Additionally, any improvements or renovations can increase the assessed value, thereby raising the property tax bill. For homeowners in Keota, the median home price stands at $220,000. The property tax bills in this area range significantly, with the 25th percentile at $1,707 and the 75th percentile at $3,471. The highest median tax bill recorded in the zip code 52248 is $2,492, which is above the national median property tax rate of 0.99%. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for Keota residents.
Average Keota Tax Bill
$2,492
Average Washington County Tax Bill
$2,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Keota, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52248 | $1,107 | $1,707 | $2,492 | $3,471 | $4,481 |
Source: Ownwell