De Soto, Iowa Property Taxes
The median property tax rate in De Soto, IA is 1.58%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in De Soto at $200,300, the typical annual property tax bill reaches $3,162, exceeding the national median of $2,690. Property taxes in De Soto 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 De Soto'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 De Soto 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
De Soto, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,165
Ownwell’s DE SOTO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE SOTO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE SOTO 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 De Soto, Iowa
Property taxes in De Soto, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Soto is 1.29%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within De Soto set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Soto 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 De Soto's effective property tax rate to other counties in Iowa and the national median. For comparison, the highest median property tax rate in the state is 1.53%, while the lowest median tax rate is also 1.53%. Understanding how these cities compare with De Soto provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Soto Tax Rate
1.58%
Average Dallas County Tax Rate
1.62%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Soto, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50069 | 0.65% | 1.42% | 1.58% | 1.69% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across De Soto, Iowa
In De Soto, 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 Dallas 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 De Soto, 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. In this area, the median home price stands at $200,300, with tax bills ranging from $1,908 at the 25th percentile to $5,374 at the 90th percentile. The highest median tax bill is $3,162 in zip code 50069, which also has the lowest median tax bill. By understanding 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 De Soto helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average De Soto Assessed Value
$200,300
Average Dallas County Assessed Value
$264,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Soto, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50069 | $41,250 | $149,365 | $200,300 | $250,780 | $376,112 |
Source: Ownwell
Property Tax Bills Across De Soto, Iowa
In De Soto, located in Dallas County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in De Soto typically see a range of property tax bills, with the 25th percentile at $1,908 and the 75th percentile reaching $3,854. The highest median tax bill in the area is $3,162, which is significantly higher than the national median property tax rate of 0.99%. Various factors influence the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For homeowners, this means that higher property values and tax rates result in larger tax bills, impacting their annual expenses. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average De Soto Tax Bill
$3,162
Average Dallas County Tax Bill
$3,638
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across De Soto, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50069 | $292 | $1,908 | $3,162 | $3,854 | $5,374 |
Source: Ownwell