Walker, Benton County, Iowa Property Taxes
The median property tax rate in Walker, IA is 1.23%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Walker at $299,350, the typical annual property tax bill reaches $3,380, surpassing the national median of $2,690. Property taxes in Walker are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Walker'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 Walker or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walker, Benton County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$3,682
$3,417
Ownwell’s Walker Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Walker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walker 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 Walker, Benton County, Iowa
Property taxes in Walker, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walker is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Walker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walker 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 Walker's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52352 zip code has the highest median property tax rate of 1.23%, while the 52352 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Walker provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walker Tax Rate
1.23%
Average Benton County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walker, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52352 | 1.02% | 1.10% | 1.23% | 1.37% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Walker, Benton County, Iowa
In Walker, 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 Benton 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 Walker, 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 Walker helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52352 has the highest and lowest median tax bill at $3,380.
Property Tax Assessment Values Across Walker, Benton County, Iowa
Source: Ownwell
$87,000
$236,925
$386,850
Average Walker Assessed Value
$299,350
Average Benton County Assessed Value
$183,200
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walker, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52352 | $134,480 | $215,950 | $299,350 | $417,550 | $586,580 |
Source: Ownwell
Property Tax Bills Across Walker, Benton County, Iowa
In Walker, located in Benton County, IA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by county assessors based on factors like property size, location, and condition. Homeowners in Walker can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. For example, the 25th percentile of tax bills in Walker is around $2,427, while the 75th percentile reaches up to $5,664. Those in the 90th percentile might see tax bills as high as $9,227. These figures illustrate the range of property tax burdens homeowners might face. With the national median property tax rate at 0.99%, Walker's tax bills can be significant, especially for higher-valued properties. Understanding these factors helps homeowners anticipate their annual property tax liabilities and plan their finances accordingly.
Average Walker Tax Bill
$3,380
Average Benton County Tax Bill
$2,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Walker, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52352 | $1,848 | $2,427 | $3,380 | $5,664 | $9,227 |
Source: Ownwell