Waterville, Iowa Property Taxes
The median property tax rate in Waterville, IA is 1.09%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Waterville at $175,050, the typical annual property tax bill reaches $1,848, which is below the national median of $2,690. Property taxes in Waterville are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Waterville'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 Waterville or another part of the city, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Waterville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,908
Ownwell’s Waterville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterville to estimate your property tax bill, providing you with a clear understanding of potential tax liabilities. For those interested in more granular data, localized information at the neighborhood level is available by scrolling down. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions. This tool is designed to offer valuable insights and help you make informed decisions about your property investments.
Property Tax Rates Across Waterville, Iowa
Property taxes in Waterville, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterville is 1.09%, higher than the U.S. national median of 0.99%. Local government entities within Waterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterville 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 Waterville's effective property tax rate to other regions in Iowa and the national median. For comparison, the 52170 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Waterville provides valuable insights into the varying tax landscape across Allamakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterville Tax Rate
1.09%
Average Allamakee County Tax Rate
1.22%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52170 | 0.84% | 0.94% | 1.09% | 1.30% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Waterville, Iowa
In Waterville, 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 Allamakee 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 Waterville, 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 Waterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 52170, with a median tax bill of $1,848.
Average Waterville Assessed Value
$175,050
Average Allamakee County Assessed Value
$156,300
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52170 | $28,940 | $74,450 | $175,050 | $283,925 | $388,660 |
Source: Ownwell
Property Tax Bills Across Waterville, Iowa
In Waterville, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location, size, and condition influence the assessed value. For homeowners in Waterville, the median home price is $175,050, and property tax bills can vary significantly. The 25th percentile tax bill is $874, while the 75th percentile tax bill is $3,054. At the 90th percentile, tax bills can reach up to $4,380. These figures highlight the range of property tax obligations homeowners may face, depending on their property's assessed value and specific circumstances. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. For Waterville residents, navigating these property tax calculations is crucial for financial planning and managing homeownership costs effectively.
Average Waterville Tax Bill
$1,848
Average Allamakee County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52170 | $418 | $874 | $1,848 | $3,054 | $4,380 |
Source: Ownwell