Weldon, Iowa Property Taxes
The median property tax rate in Weldon, IA is 1.74%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Weldon, the typical annual property tax bill reaches $2,166, exceeding the national median of $2,690. Property taxes in Weldon are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Weldon'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 Weldon or another part of Clarke County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weldon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$2,263
Ownwell’s Weldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weldon 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 Weldon, Iowa
Property taxes in Weldon, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weldon is 1.74%, significantly higher than the U.S. national median of 0.99%. Local government entities within Weldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weldon 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 Weldon's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50264 has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with Weldon provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Weldon Tax Rate
1.74%
Average Clarke County Tax Rate
1.89%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50264 | 1.24% | 1.56% | 1.74% | 1.90% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Weldon, Iowa
In Weldon, 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 Clarke 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 Weldon, 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 Weldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50264 has the highest median tax bill of $2,166, while the lowest median tax bill is also $2,166.
Average Weldon Assessed Value
$130,080
Average Clarke County Assessed Value
$115,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Weldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50264 | $22,166 | $59,530 | $130,080 | $182,610 | $258,516 |
Source: Ownwell
Property Tax Bills Across Weldon, Iowa
In Weldon, property tax bills are calculated based on the assessed value of a home, which is determined by the Clarke County Assessor's Office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $130,080 in Weldon, the tax bills can vary significantly. Homeowners in the 25th percentile may see tax bills around $990, while those in the 75th percentile could face bills as high as $3,472. At the 90th percentile, tax bills can reach up to $4,567. Several factors influence these tax amounts, including property improvements, neighborhood developments, and changes in local government budgets. Compared to the national median property tax rate of 0.99%, Weldon’s rates reflect the unique economic and social dynamics of the region. Homeowners must stay informed about these variables as they directly impact their financial planning and homeownership costs.
Average Weldon Tax Bill
$2,166
Average Clarke County Tax Bill
$2,187
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Weldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50264 | $238 | $990 | $2,166 | $3,472 | $4,567 |
Source: Ownwell