Independence, Buchanan County, Iowa Property Taxes

Name: Property Tax Bills Across Independence, Buchanan County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Independence, IA effective property tax rate: 1.61%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Independence, IA home value: $159,860
Median annual Independence, IA tax bill: $2,396, $4 lower than the national median property tax bill of $2,400.

How are property taxes in Buchanan County calculated?

Property taxes in Independence, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Independence’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Independence, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Independence, Buchanan County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.61%

Estimate Property Tax Bill

$2,574

$2,388

Ownwell’s Independence Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Independence with just two data points. By entering your property's estimated assessed value, our calculator applies Independence’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Buchanan County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Independence, Buchanan County, Iowa

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Independence’s effective property tax rate to other cities in Iowa and the median property tax rates in Iowa and the U.S. Independence, located in Buchanan County, has a median property tax rate of 1.61%. This rate is notably higher than the national median property tax rate of 1.02%. In fact, Independence shares the highest median property tax rate in Iowa with other areas in zip code 50644. When compared to the national median property tax bill of $2400, property owners in Independence may find their tax bills to be significantly higher due to the elevated tax rate. Understanding these rates can help property owners make informed decisions regarding property investments and financial planning.

Property Tax Rates Across Independence, Buchanan County, Iowa

Source: Ownwell

1.13%

1.37%

1.61%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Independence Tax Rate

1.61%

Median Effective Buchanan County Tax Rate

1.39%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Independence, Buchanan County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50644	1.11%	1.20%	1.61%	1.72%	1.79%

Source: Ownwell

Property Tax Assessment Values Across Independence, Buchanan County, Iowa

When examining property taxes in Independence, Iowa, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Buchanan County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. In Buchanan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Independence. For example, the median home price in Independence is $159,860, with tax bills ranging significantly across the county. Zip code 50644 has the highest median home price at $159,860.

Property Tax Assessment Values Across Independence, Buchanan County, Iowa

Source: Ownwell

$72,350

$156,665

$240,980

Median Independence Market Value

$159,860

Median Buchanan County Market Value

$154,105

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Independence, Buchanan County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50644	$64,038	$106,830	$159,860	$234,000	$329,264

Source: Ownwell

Property Tax Bills Across Independence, Buchanan County, Iowa

In Independence, Buchanan County, Iowa, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners, this means that fluctuations in the assessed value of their property directly impact the amount they owe in property taxes. Independence has a median property tax bill of $2,396, which is slightly below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,590 and the 90th percentile reaching $4,701. Ownwell can assist homeowners in Independence by providing expert property tax appeal services. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially lower their tax bills. This service can be particularly beneficial for those with higher tax assessments, ensuring they only pay what is fair and accurate.

Property Tax Bills Across Independence, Buchanan County, Iowa

Source: Ownwell

$916

$1,855

$2,794

Median Independence Tax Bill

$2,396

Median Buchanan County Tax Bill

$2,162

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Independence, Buchanan County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50644	$859	$1,590	$2,396	$3,458	$4,701

Source: Ownwell