Buchanan County Property Taxes
The median property tax rate in Buchanan County is 1.39%, which is significantly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $154,105 in Buchanan County, the typical annual property tax bill amounts to $2,162, falling below the national median of $2,690. Property taxes in Buchanan County are calculated based on the tax assessed value, which is often lower than the actual market value due to various exemptions like primary residence and agricultural exemptions. Understanding Buchanan County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Independence or another part of Buchanan County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buchanan County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$2,142
Ownwell’s Buchanan County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Buchanan County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Buchanan County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Buchanan County, Iowa
Property taxes in Buchanan County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Buchanan County is 1.39%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Buchanan County set these rates annually, and they can vary significantly between different areas within the county. Each year, Buchanan County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Independence has one of the higher property tax rates in Iowa at 1.61%, while the city of Ryan boasts one of the lowest at 1.06%. Analyzing how Buchanan County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Buchanan County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buchanan County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aurora | 1.09% | 1.15% | 1.30% | 1.46% | 1.55% |
| Brandon | 1.07% | 1.14% | 1.27% | 1.45% | 1.53% |
| Coggon | 1.05% | 1.13% | 1.23% | 1.36% | 1.45% |
| Dunkerton | 1.08% | 1.14% | 1.19% | 1.20% | 1.23% |
| Fairbank | 1.11% | 1.19% | 1.30% | 1.38% | 1.45% |
| Hazleton | 1.07% | 1.16% | 1.30% | 1.43% | 1.54% |
| Independence | 1.11% | 1.20% | 1.61% | 1.72% | 1.79% |
| Jesup | 1.16% | 1.30% | 1.60% | 1.66% | 1.70% |
| Lamont | 0.96% | 1.07% | 1.25% | 1.42% | 1.51% |
| La Porte City | 1.01% | 1.04% | 1.17% | 1.29% | 1.31% |
| Masonville | 0.95% | 1.08% | 1.17% | 1.24% | 1.33% |
| Oelwein | 1.04% | 1.09% | 1.13% | 1.17% | 1.22% |
| Quasqueton | 1.18% | 1.29% | 1.39% | 1.46% | 1.53% |
| Rowley | 1.04% | 1.11% | 1.19% | 1.32% | 1.40% |
| Ryan | 1.04% | 1.04% | 1.06% | 1.07% | 1.08% |
| Stanley | 1.07% | 1.15% | 1.31% | 1.52% | 1.76% |
| Walker | 1.05% | 1.11% | 1.17% | 1.28% | 1.41% |
| Winthrop | 1.08% | 1.16% | 1.28% | 1.37% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Buchanan County, Iowa
In Buchanan County, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Buchanan County Appraisal District. The assessed value, however, 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. Assessment notices in Buchanan County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Lamont has the lowest median tax bill at $916, while Dunkerton has the highest at $3,925. Being aware of these valuation processes in Buchanan County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Buchanan County Assessed Value
$154,105
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buchanan County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aurora | $30,526 | $55,208 | $125,790 | $190,948 | $284,471 |
| Brandon | $38,475 | $70,662 | $120,895 | $230,292 | $336,382 |
| Coggon | $69,492 | $130,180 | $202,380 | $288,770 | $343,894 |
| Dunkerton | $159,595 | $183,818 | $328,045 | $423,440 | $457,855 |
| Fairbank | $61,002 | $108,270 | $157,120 | $226,485 | $312,646 |
| Hazleton | $39,462 | $69,150 | $109,810 | $196,840 | $291,546 |
| Independence | $64,038 | $106,830 | $159,860 | $234,000 | $329,264 |
| Jesup | $77,660 | $129,035 | $183,360 | $262,135 | $361,200 |
| Lamont | $27,076 | $39,510 | $72,350 | $150,300 | $253,984 |
| La Porte City | $126,385 | $130,818 | $154,080 | $179,232 | $187,067 |
| Masonville | $124,260 | $181,580 | $240,980 | $335,875 | $479,864 |
| Oelwein | $118,786 | $137,435 | $199,520 | $255,930 | $324,034 |
| Quasqueton | $31,528 | $67,060 | $99,000 | $145,760 | $210,882 |
| Rowley | $56,717 | $93,320 | $156,750 | $228,252 | $326,079 |
| Ryan | $152,959 | $154,788 | $157,835 | $160,882 | $162,711 |
| Stanley | $27,274 | $38,050 | $75,140 | $184,860 | $255,534 |
| Walker | $94,416 | $140,505 | $199,590 | $274,468 | $366,343 |
| Winthrop | $65,834 | $105,440 | $163,520 | $238,790 | $324,706 |
Source: Ownwell
Property Tax Bills Across Buchanan County, Iowa
In Buchanan County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate. For context, the national median property tax rate is 0.99%. In Buchanan County, the median home price is $154,105. Homeowners in the 25th percentile can expect a tax bill around $1,274, while those in the 75th percentile face bills closer to $3,220. The 90th percentile sees tax bills as high as $4,465. Factors influencing these calculations include the market value of the property, local tax rates, and any applicable exemptions or deductions. For instance, Dunkerton has the highest median tax bill in the county at $3,925, while Lamont has the lowest at $916. These variations can significantly impact homeowners, affecting their annual expenses and long-term financial planning. Understanding these factors helps homeowners anticipate their tax obligations more accurately.
Average Buchanan County Tax Bill
$2,162
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Buchanan County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aurora | $410 | $792 | $1,620 | $2,648 | $3,374 |
| Brandon | $505 | $948 | $1,604 | $2,834 | $4,374 |
| Coggon | $748 | $1,516 | $2,510 | $3,872 | $4,414 |
| Dunkerton | $1,905 | $2,236 | $3,925 | $4,922 | $5,035 |
| Fairbank | $735 | $1,334 | $2,074 | $2,850 | $3,730 |
| Hazleton | $504 | $912 | $1,496 | $2,384 | $3,462 |
| Independence | $859 | $1,590 | $2,396 | $3,458 | $4,701 |
| Jesup | $1,018 | $1,926 | $2,794 | $3,936 | $5,163 |
| Lamont | $299 | $492 | $916 | $1,774 | $3,068 |
| La Porte City | $1,365 | $1,579 | $1,866 | $2,106 | $2,234 |
| Masonville | $1,294 | $1,978 | $2,740 | $4,026 | $5,714 |
| Oelwein | $1,302 | $1,554 | $2,182 | $2,888 | $3,801 |
| Quasqueton | $386 | $894 | $1,376 | $2,019 | $3,014 |
| Rowley | $678 | $1,138 | $1,932 | $2,678 | $3,928 |
| Ryan | $1,585 | $1,617 | $1,670 | $1,723 | $1,755 |
| Stanley | $270 | $531 | $1,040 | $2,401 | $3,034 |
| Walker | $963 | $1,608 | $2,298 | $3,302 | $4,300 |
| Winthrop | $843 | $1,301 | $2,048 | $3,102 | $3,953 |
Source: Ownwell