Burnside, Iowa Property Taxes
The median property tax rate in Burnside, IA is 0.95%, slightly lower than the national median of 0.99% and significantly below the Iowa state median of 1.54%. With the median home value in Burnside at $65,730, the typical annual property tax bill is $726, which is much less than the national median of $2,690. Property taxes in Burnside are calculated based on the assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Burnside'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 Burnside 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
Burnside, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$624
Ownwell’s Burnside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burnside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnside 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 Burnside, Iowa
Property taxes in Burnside, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnside is 0.95%, slightly lower than the U.S. national median of 0.99%. Local government entities within Burnside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnside 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 Burnside's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50521 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Burnside provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnside Tax Rate
0.95%
Average Webster County Tax Rate
1.86%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnside, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50521 | 0.77% | 0.86% | 0.95% | 0.98% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Burnside, Iowa
In Burnside, 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 Webster 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 Burnside, 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 Burnside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Burnside is $65,730, with tax bills ranging from $430 at the 25th percentile to $1,700 at the 90th percentile. The zip code 50521 has the highest and lowest median tax bill of $726.
Average Burnside Assessed Value
$65,730
Average Webster County Assessed Value
$94,900
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnside, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50521 | $13,941 | $41,345 | $65,730 | $120,055 | $184,920 |
Source: Ownwell
Property Tax Bills Across Burnside, Iowa
In Burnside, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Burnside, part of Webster County, typically see a range of property tax bills. For instance, the 25th percentile tax bill is around $430, while the 75th percentile reaches up to $1,162, and the 90th percentile can go as high as $1,700. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. The median home price in Burnside is $65,730, which significantly impacts the overall tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Burnside may notice a variance in their tax obligations. Understanding these factors helps homeowners anticipate their annual property tax expenses and manage their finances more effectively. Accurate assessments ensure that property taxes are fairly distributed, contributing to community services and infrastructure.
Average Burnside Tax Bill
$726
Average Webster County Tax Bill
$1,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnside, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50521 | $110 | $430 | $726 | $1,162 | $1,700 |
Source: Ownwell