Edgewood, Clayton County, Iowa Property Taxes
The median property tax rate in Edgewood, IA is 1.26%, considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Edgewood at $145,959, the typical annual property tax bill reaches $1,830, which is below the national median of $2,690. Property taxes in Edgewood 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 Edgewood'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 Edgewood 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
Edgewood, Clayton County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,839
$1,707
Ownwell’s Edgewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edgewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edgewood 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 Edgewood, Clayton County, Iowa
Property taxes in Edgewood, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edgewood is 1.26%, significantly higher than the U.S. national median of 0.99%. Local government entities within Edgewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edgewood 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 Edgewood's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52042 has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Edgewood provides valuable insights into the varying tax landscape across Clayton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgewood Tax Rate
1.26%
Average Clayton County Tax Rate
1.34%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgewood, Clayton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52042 | 1.07% | 1.13% | 1.26% | 1.51% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Edgewood, Clayton County, Iowa
In Edgewood, 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 Clayton 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 Edgewood, 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 Edgewood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Edgewood are both $1,830, located in the 52042 zip code.
Property Tax Assessment Values Across Edgewood, Clayton County, Iowa
Source: Ownwell
$66,342
$124,361
$182,379
Average Edgewood Assessed Value
$145,959
Average Clayton County Assessed Value
$133,780
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgewood, Clayton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52042 | $29,985 | $80,697 | $145,959 | $217,682 | $290,694 |
Source: Ownwell
Property Tax Bills Across Edgewood, Clayton County, Iowa
In Edgewood, Clayton County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Edgewood typically see a median property tax bill of $1,830, which aligns with the highest and lowest median tax bills in the area. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $1,014, while at the 75th percentile, it reaches $2,700, and at the 90th percentile, it can climb to $3,541. These variations highlight how different property values and applicable exemptions can impact the overall tax burden. Comparatively, Edgewood's median tax rate is below the national median property tax rate of 0.99%, offering some relief to homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Edgewood Tax Bill
$1,830
Average Clayton County Tax Bill
$1,792
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgewood, Clayton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52042 | $390 | $1,014 | $1,830 | $2,700 | $3,541 |
Source: Ownwell