Kensett, Iowa Property Taxes
The median property tax rate in Kensett, IA is 1.05%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Kensett at $116,073, the typical annual property tax bill amounts to $1,242, which is below the national median of $2,690. Property taxes in Kensett are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kensett'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 Kensett 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
Kensett, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,219
Ownwell’s Kensett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kensett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kensett 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 Kensett, Iowa
Property taxes in Kensett, Iowa, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Kensett is 1.27%, higher than the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Kensett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kensett 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 Kensett's effective property tax rate to other counties in Iowa and the national median. For comparison, 50448 has the highest median property tax rate of 1.05%, while 50448 also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Kensett provides valuable insights into the varying tax landscape across Worth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kensett Tax Rate
1.05%
Average Worth County Tax Rate
1.17%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kensett, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50448 | 0.75% | 0.88% | 1.05% | 1.31% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Kensett, Iowa
In Kensett, 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 Worth 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 Kensett, 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 Kensett 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 Kensett is 50448, with a median tax bill of $1,242.
Average Kensett Assessed Value
$116,073
Average Worth County Assessed Value
$133,156
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kensett, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50448 | $33,185 | $69,434 | $116,073 | $216,935 | $286,540 |
Source: Ownwell
Property Tax Bills Across Kensett, Iowa
In Kensett, located in Worth County, IA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Kensett can expect their property tax bill to vary significantly depending on several factors, including property size, location, and any applicable exemptions. The median home price in Kensett is $116,073, and property tax bills can range widely. For instance, the 25th percentile tax bill is $820, while the 75th percentile tax bill reaches $1,982. At the higher end, the 90th percentile tax bill is $2,682. These figures provide a snapshot of the variability in property taxes, which can impact homeowners' financial planning and overall cost of living. Comparatively, the property tax rate in Kensett is competitive, considering the national median property tax rate is 0.99%. This means that while some homeowners may face higher tax bills, others may benefit from relatively lower rates, making Kensett an appealing option for those looking to manage their property expenses effectively.
Average Kensett Tax Bill
$1,242
Average Worth County Tax Bill
$1,502
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Kensett, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50448 | $383 | $820 | $1,242 | $1,982 | $2,682 |
Source: Ownwell