Farmersburg, Clayton County, Iowa Property Taxes
The median property tax rate in Farmersburg, IA is 1.43%, which is higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With the median home value in Farmersburg at $111,408, the typical annual property tax bill is $1,562, which is below the national median of $2,690. Property taxes in Farmersburg are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Farmersburg'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 Farmersburg or another part of Clayton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Farmersburg, Clayton County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,593
$1,478
Ownwell’s Farmersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farmersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farmersburg 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 Farmersburg, Clayton County, Iowa
Property taxes in Farmersburg, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Farmersburg is 1.43%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Farmersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farmersburg 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 Farmersburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52047 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Farmersburg 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 Farmersburg Tax Rate
1.43%
Average Clayton County Tax Rate
1.34%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farmersburg, Clayton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52047 | 1.06% | 1.17% | 1.43% | 1.61% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Farmersburg, Clayton County, Iowa
In Farmersburg, 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 Farmersburg, 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 Farmersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52047 has the highest median tax bill at $1,562.
Property Tax Assessment Values Across Farmersburg, Clayton County, Iowa
Source: Ownwell
$66,342
$124,361
$182,379
Average Farmersburg Assessed Value
$111,408
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 Farmersburg, Clayton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52047 | $39,202 | $69,584 | $111,408 | $181,237 | $264,289 |
Source: Ownwell
Property Tax Bills Across Farmersburg, Clayton County, Iowa
In Farmersburg, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the Clayton County assessor and is a percentage of the property's market value, which is influenced by factors such as location, size, and condition. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Farmersburg, the median home price is $111,408. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,024 and the 75th percentile at $2,299. At the 90th percentile, homeowners might see a tax bill as high as $3,531. These figures highlight the range of property tax burdens that can be expected. Comparatively, the national median property tax rate is 0.99%, placing Farmersburg's rates in a competitive range. Homeowners need to consider these taxes as part of their overall housing costs, impacting affordability and long-term financial planning.
Average Farmersburg Tax Bill
$1,562
Average Clayton County Tax Bill
$1,792
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Farmersburg, Clayton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52047 | $562 | $1,024 | $1,562 | $2,299 | $3,531 |
Source: Ownwell