Protivin, Iowa Property Taxes
The median property tax rate in Protivin, IA is 0.98%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With the median home value in Protivin, the typical annual property tax bill reaches $2,713, which is just under the national median of $2,690. Property taxes in Protivin 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 Protivin'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 Protivin or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Protivin, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$2,739
Ownwell’s Protivin Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Protivin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Protivin to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available further down. Your property’s assessed value is the value assigned by Chickasaw County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Protivin, Iowa
Property taxes in Protivin, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Protivin is 0.98%, just below the U.S. national median of 0.99%. Local government entities within Protivin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Protivin 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. Understanding how these cities compare with Protivin provides valuable insights into the varying tax landscape across Chickasaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Protivin Tax Rate
0.98%
Average Chickasaw County Tax Rate
1.19%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Protivin, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52163 | 0.96% | 0.97% | 0.98% | 0.99% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Protivin, Iowa
In Protivin, 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 Chickasaw County Assessor's Office 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 Protivin, 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 Protivin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52163 has the highest and lowest median tax bill, both at $2713.
Average Protivin Assessed Value
$279,500
Average Chickasaw County Assessed Value
$150,300
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Protivin, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52163 | $259,600 | $269,775 | $279,500 | $371,425 | $419,100 |
Source: Ownwell
Property Tax Bills Across Protivin, Iowa
In Protivin, located in Chickasaw County, IA, property tax bills are calculated based on the property's assessed value, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Protivin, the median home price is $279,500. Property tax bills can vary significantly; for instance, the tax bill at the 25th percentile is $2,658, while at the 75th percentile, it is $3,589. The 90th percentile tax bill reaches up to $4,098. The highest and lowest median tax bills in the area are both $2,713, corresponding to the zip code 52163. Compared to the national median property tax rate of 0.99%, Protivin's property tax rates can have a considerable impact on homeowners, influencing their annual financial planning and overall cost of homeownership.
Average Protivin Tax Bill
$2,713
Average Chickasaw County Tax Bill
$1,710
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Protivin, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52163 | $2,627 | $2,658 | $2,713 | $3,589 | $4,098 |
Source: Ownwell