Washta, Cherokee County, Iowa Property Taxes
The median property tax rate in Washta, IA is 0.99%, aligning with the national median of 0.99% but significantly lower than the Iowa state median of 1.54%. With a median home value of $64,470 in Washta, the typical annual property tax bill is $664, which is well below the national median of $2,690. Property taxes in Washta are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Washta'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 Washta or another part of Cherokee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Washta, Cherokee County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$638
$592
Ownwell’s Washta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washta 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 Washta, Cherokee County, Iowa
Property taxes in Washta, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washta is 1.47%, higher than both the Iowa state median of 1.43% and the U.S. national median of 0.99%. Local government entities within Washta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washta 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 Washta's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51061 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Washta provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washta Tax Rate
0.99%
Average Cherokee County Tax Rate
1.11%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washta, Cherokee County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51061 | 0.72% | 0.84% | 0.99% | 1.20% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Washta, Cherokee County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Washta, Iowa. 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 Cherokee County Assessor 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 Washta, 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. For example, the median home price in Washta is $64,470 with tax bills ranging from $291 at the 25th percentile to $2,146 at the 90th percentile. 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 Washta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Washta, Cherokee County, Iowa
Source: Ownwell
$64,470
$153,968
$243,465
Average Washta Assessed Value
$64,470
Average Cherokee County Assessed Value
$121,460
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washta, Cherokee County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51061 | $9,716 | $29,415 | $64,470 | $135,600 | $237,182 |
Source: Ownwell
Property Tax Bills Across Washta, Cherokee County, Iowa
In Washta, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence a homeowner's tax bill, including the property's market value, the assessment ratio, and the local tax rate set by Cherokee County. For instance, the median home price in Washta is $64,470. Depending on the assessed value and the tax rate, homeowners can expect their tax bills to vary. At the 25th percentile, tax bills are around $291, while at the 75th percentile, they reach approximately $1,375. The 90th percentile sees tax bills as high as $2,146. These figures highlight the range of tax burdens homeowners might face. Comparatively, the highest and lowest median tax bills in the area are both $664, indicating a consistent median tax burden within the 51061 zip code. Understanding these elements can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Washta Tax Bill
$664
Average Cherokee County Tax Bill
$1,348
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Washta, Cherokee County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51061 | $110 | $291 | $664 | $1,375 | $2,146 |
Source: Ownwell