Littleport, Iowa Property Taxes
The median property tax rate in Littleport, IA is 1.50%, slightly lower than the Iowa state median of 1.54% but still significantly higher than the national median of 0.99%. With a median home value of $51,736 in Littleport, the typical annual property tax bill amounts to $778, which is well below the national median of $2,690. Property taxes in Littleport are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Littleport's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Littleport or another part of Clayton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Littleport, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$776
Ownwell’s Littleport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Littleport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Littleport 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 Littleport, Iowa
Property taxes in Littleport, Iowa, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Littleport is 1.50%, notably higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Littleport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Littleport 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 Littleport's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52042 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Littleport 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 Littleport Tax Rate
1.50%
Average Clayton County Tax Rate
1.34%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Littleport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52042 | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Littleport, Iowa
In Littleport, 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 Appraisal District 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 Littleport, 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 Littleport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 52042 has both the highest and lowest median tax bill at $778, highlighting a uniformity in property tax assessments within the area.
Average Littleport Assessed Value
$51,736
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 Littleport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52042 | $51,736 | $51,736 | $51,736 | $51,736 | $51,736 |
Source: Ownwell
Property Tax Bills Across Littleport, Iowa
In Littleport, located in Clayton County, IA, 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 county assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Littleport, the median home price is $51,736, and the property tax bill is consistent across various percentiles, with the 25th, 75th, and 90th percentiles all at $778. This uniformity suggests a stable tax environment for homeowners. When compared to the national median property tax rate of 0.99%, Littleport’s tax rate is relatively moderate, making it an attractive location for property investment. Homeowners in Littleport benefit from predictable tax bills, which can aid in financial planning and budgeting. The consistency in tax bills also indicates a balanced approach to property valuation and taxation by local authorities.
Average Littleport Tax Bill
$778
Average Clayton County Tax Bill
$1,792
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Littleport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52042 | $778 | $778 | $778 | $778 | $778 |
Source: Ownwell