Ruthven, Clay County, Iowa Property Taxes
The median property tax rate in Ruthven, IA is 1.24%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Ruthven at $200,385, the typical annual property tax bill amounts to $2,374, slightly below the national median of $2,690. Property taxes in Ruthven are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Ruthven'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 Ruthven or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ruthven, Clay County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$2,485
$2,306
Ownwell’s Ruthven Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Ruthven. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Ruthven to provide an accurate estimate of your property tax bill. This allows you to understand your potential tax liabilities clearly. For those interested in more detailed insights, localized information on neighborhood trends is available further down the page. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Ruthven, Clay County, Iowa
Property taxes in Ruthven, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ruthven is 1.24%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Ruthven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruthven 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 Ruthven's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51358 zip code has both the highest and the lowest median property tax rate of 1.24%. Understanding how these cities compare with Ruthven provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ruthven Tax Rate
1.24%
Average Clay County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruthven, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51358 | 0.99% | 1.09% | 1.24% | 1.31% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Ruthven, Clay County, Iowa
In Ruthven, 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 Clay 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 Ruthven, 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 Ruthven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ruthven are both recorded at $2,374 in the 51358 zip code.
Property Tax Assessment Values Across Ruthven, Clay County, Iowa
Source: Ownwell
$57,080
$137,660
$218,240
Average Ruthven Assessed Value
$200,385
Average Clay County Assessed Value
$145,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ruthven, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51358 | $50,402 | $113,162 | $200,385 | $303,040 | $436,270 |
Source: Ownwell
Property Tax Bills Across Ruthven, Clay County, Iowa
In Ruthven, located in Clay County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Once the assessed value is established, the local tax rate is applied to this value to calculate the annual property tax bill. For example, with a median home price of $200,385, homeowners in Ruthven can expect varying tax bills. The 25th percentile tax bill is approximately $1,240, while the 75th percentile reaches around $3,744. At the higher end, the 90th percentile tax bill can be as much as $5,508. The highest and lowest median tax bills in the area are both $2,374, indicating a degree of consistency in tax assessments. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how their property tax is calculated can help in budgeting and financial planning, ensuring they are prepared for these annual expenses.
Average Ruthven Tax Bill
$2,374
Average Clay County Tax Bill
$1,910
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruthven, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51358 | $662 | $1,240 | $2,374 | $3,744 | $5,508 |
Source: Ownwell