Plymouth, Iowa Property Taxes
The median property tax rate in Plymouth, IA is 0.87%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Plymouth at $208,208, the typical annual property tax bill comes to $1,687, significantly below the national median of $2,690. Property taxes in Plymouth are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Plymouth'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 Plymouth or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Plymouth, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,811
Ownwell’s Plymouth Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Plymouth with ease. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Plymouth to provide a reliable estimate of your property tax bill. This invaluable tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the figure determined by Worth County for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Plymouth, Iowa
Property taxes in Plymouth, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 1.43%, significantly higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 Plymouth's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50464 zip code has the highest median property tax rate of 1.43%, while the 50464 zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Plymouth 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 Plymouth Tax Rate
0.87%
Average Worth County Tax Rate
1.17%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50464 | 0.75% | 0.79% | 0.87% | 1.00% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Iowa
In Plymouth, 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 local 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 Plymouth, 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 Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Plymouth is $1,687 in the 50464 zip code, while the lowest median tax bill is also $1,687 in the same zip code.
Average Plymouth Assessed Value
$208,208
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 Plymouth, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50464 | $37,379 | $114,299 | $208,208 | $293,660 | $420,903 |
Source: Ownwell
Property Tax Bills Across Plymouth, Iowa
In Plymouth, located in Worth County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to calculate the annual property tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements made. For instance, the median home price in Plymouth is $208,208. Homeowners in the 25th percentile can expect to pay around $1,109 in property taxes, while those in the 75th percentile may see bills as high as $2,428. At the 90th percentile, tax bills can reach up to $3,680. The highest and lowest median tax bills in Plymouth are both $1,687, located in the 50464 zip code. These property tax rates can significantly impact homeowners, influencing their monthly budgeting and overall financial planning. Compared to the national median property tax rate of 0.99%, Plymouth's rates reflect the local economic and real estate conditions.
Average Plymouth Tax Bill
$1,687
Average Worth County Tax Bill
$1,502
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50464 | $393 | $1,109 | $1,687 | $2,428 | $3,680 |
Source: Ownwell