Danbury, Iowa Property Taxes
The median property tax rate in Danbury, IA is 1.08%, 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 Danbury at $213,355, the typical annual property tax bill amounts to $2,221, which is below the national median of $2,690. Property taxes in Danbury are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Danbury'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 Danbury 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
Danbury, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,304
Ownwell’s Danbury Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Danbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danbury 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 Danbury, Iowa
Property taxes in Danbury, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danbury is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Danbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danbury 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 Danbury's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51019 has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Danbury provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danbury Tax Rate
1.08%
Average Crawford County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danbury, Iowa
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
51019 | 0.91% | 0.95% | 1.08% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Danbury, Iowa
In Danbury, 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 Crawford 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 Danbury, 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. For instance, the highest median tax bill in Danbury is $2,221, found in the 51019 zip code. 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 Danbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Danbury Assessed Value
$213,355
Average Crawford County Assessed Value
$109,475
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danbury, Iowa
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
51019 | $80,885 | $127,992 | $213,355 | $281,048 | $322,226 |
Source: Ownwell
Property Tax Bills Across Danbury, Iowa
In Danbury, Crawford County, IA, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors that influence the assessed value include the property's market value, improvements made, and comparable property values in the area. For homeowners in Danbury, the median home price is $213,355, and property taxes can vary significantly. The tax bill at the 25th percentile is $1,302, while at the 75th percentile, it rises to $3,154. At the 90th percentile, homeowners might pay as much as $3,521. The highest median tax bill in the area is $2,221, which is considerably higher than the national median property tax rate of 0.99%. These tax bills directly impact homeowners' annual expenses, influencing both affordability and overall cost of living in the region. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Danbury Tax Bill
$2,221
Average Crawford County Tax Bill
$1,544
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Danbury, Iowa
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
51019 | $955 | $1,302 | $2,221 | $3,154 | $3,521 |
Source: Ownwell