Durant, Iowa Property Taxes
The median property tax rate in Durant, Iowa is 1.29%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $200,850 in Durant, the typical annual property tax bill reaches $2,560, slightly below the national median of $2,690. Property taxes in Durant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Durant'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 Durant or another part of Cedar County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Durant, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$2,591
Ownwell’s Durant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Durant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Durant 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 Durant, Iowa
Property taxes in Durant, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durant is 1.29%, significantly higher than the U.S. national median of 0.99%. Local government entities within Durant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durant 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 Durant's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52747 zip code has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Durant provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durant Tax Rate
1.29%
Average Cedar County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durant, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52747 | 1.15% | 1.25% | 1.29% | 1.35% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Durant, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Durant, IA. The market value represents 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 Cedar 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 Durant, 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 Durant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Durant is $2,560, with the highest and lowest median tax bills both being $2,560 in the 52747 zip code.
Average Durant Assessed Value
$200,850
Average Cedar County Assessed Value
$186,910
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Durant, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52747 | $117,894 | $155,708 | $200,850 | $254,328 | $326,993 |
Source: Ownwell
Property Tax Bills Across Durant, Iowa
In Durant, Cedar County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $200,850, homeowners in Durant can expect their property tax bills to vary. The 25th percentile tax bill is around $2,022, while the 75th percentile reaches $3,270, and the 90th percentile can be as high as $4,179. These figures indicate that property taxes in Durant can range widely depending on the home's value and the specific tax rate applied. This variability in tax bills affects homeowners by influencing their overall housing costs and affordability. Compared to the national median property tax rate of 0.99%, Durant's property tax rates reflect both the local economic conditions and the funding needs of public services in Cedar County.
Average Durant Tax Bill
$2,560
Average Cedar County Tax Bill
$2,390
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Durant, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52747 | $1,563 | $2,022 | $2,560 | $3,270 | $4,179 |
Source: Ownwell