Waucoma, Iowa Property Taxes
The median property tax rate in Waucoma, IA is 1.09%, slightly above the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $213,150 in Waucoma, the typical annual property tax bill amounts to $2,258, which is below the national median of $2,690. Property taxes in Waucoma are determined based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Waucoma'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 Waucoma or another part of Chickasaw County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waucoma, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$2,323
Ownwell’s Waucoma Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waucoma with just two simple inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waucoma to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of your potential tax obligations. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Waucoma, Iowa
Property taxes in Waucoma, Iowa, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Waucoma is 1.09%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Waucoma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waucoma 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 Waucoma's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52171 zip code has the highest median property tax rate of 1.09%, while the lowest median tax rate is also 1.09% in the same zip code. Understanding how these cities compare with Waucoma 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 Waucoma Tax Rate
1.09%
Average Chickasaw County Tax Rate
1.19%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waucoma, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52171 | 0.91% | 0.97% | 1.09% | 1.19% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Waucoma, Iowa
In Waucoma, 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 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 Waucoma, 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 Waucoma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,258 in the 52171 zip code, which also has the lowest median tax bill.
Average Waucoma Assessed Value
$213,150
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 Waucoma, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52171 | $102,600 | $146,525 | $213,150 | $283,025 | $368,350 |
Source: Ownwell
Property Tax Bills Across Waucoma, Iowa
In Waucoma, located in Chickasaw County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects the market value of the property. Various factors such as property size, location, and improvements can influence this assessed value. Homeowners in Waucoma face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $1,550, while the 75th percentile reaches up to $3,152, and the 90th percentile can be as high as $4,465. The median home price in Waucoma is $213,150, which provides a baseline for these calculations. Compared to the national median property tax rate of 0.99%, homeowners in Waucoma experience a range of tax burdens that could impact their financial planning and overall cost of homeownership. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their budgets effectively.
Average Waucoma Tax Bill
$2,258
Average Chickasaw County Tax Bill
$1,710
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Waucoma, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52171 | $1,217 | $1,550 | $2,258 | $3,152 | $4,465 |
Source: Ownwell