Fort Dodge, Iowa Property Taxes
The median property tax rate in FORT DODGE, IA is 1.99%, significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in FORT DODGE at $89,900, the typical annual property tax bill reaches $1,768, which is still below the national median of $2,690. Property taxes in FORT DODGE are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding FORT DODGE'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 FORT DODGE 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
Fort Dodge, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$1,789
Ownwell’s Fort Dodge Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fort Dodge with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fort Dodge 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 Fort Dodge, Iowa
Property taxes in Fort Dodge, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Dodge is 1.99%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Fort Dodge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Dodge 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 Fort Dodge's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50501 zip code has the highest median property tax rate of 1.99%, while the 50501 zip code also has the lowest median tax rate of 1.99%. Understanding how these cities compare with Fort Dodge 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 Fort Dodge Tax Rate
1.99%
Average Webster County Tax Rate
1.86%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Dodge, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50501 | 1.28% | 1.69% | 1.99% | 2.17% | 2.33% |
Source: Ownwell
Property Tax Assessment Values Across Fort Dodge, Iowa
In Fort Dodge, 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 Fort Dodge, 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 Fort Dodge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fort Dodge are both recorded at $1,768 in the 50501 zip code.
Average Fort Dodge Assessed Value
$89,900
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 Fort Dodge, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50501 | $25,410 | $51,530 | $89,900 | $161,735 | $241,140 |
Source: Ownwell
Property Tax Bills Across Fort Dodge, Iowa
In Fort Dodge, located in Webster County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this area is $89,900, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Fort Dodge can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $1,052, while the 75th percentile climbs to $3,055. At the higher end, the 90th percentile tax bill reaches $4,463. These figures highlight the variability in property tax burdens depending on the specific characteristics of the property. Compared to the national median property tax rate of 0.99%, Fort Dodge's property taxes can be relatively high, impacting homeowners' annual financial planning. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Fort Dodge Tax Bill
$1,768
Average Webster County Tax Bill
$1,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Dodge, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50501 | $616 | $1,052 | $1,768 | $3,055 | $4,463 |
Source: Ownwell