Eldon, Iowa Property Taxes
The median property tax rate in Eldon, IA is 1.75%, significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Eldon at $153,710, the typical annual property tax bill reaches $2,748, which is close to the national median of $2,690. Property taxes in Eldon 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 Eldon'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 Eldon or another part of Davis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eldon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$2,690
Ownwell’s Eldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eldon 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 Eldon, Iowa
Property taxes in Eldon, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eldon is 1.75%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Eldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eldon 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 Eldon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52554 zip code has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Eldon provides valuable insights into the varying tax landscape across Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eldon Tax Rate
1.75%
Average Davis County Tax Rate
1.75%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52554 | 1.44% | 1.67% | 1.75% | 1.90% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Eldon, Iowa
In Eldon, 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 Davis 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 Eldon, 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 Eldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Eldon are both $2,748, located in zip code 52554.
Average Eldon Assessed Value
$153,710
Average Davis County Assessed Value
$127,685
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52554 | $100,650 | $104,295 | $153,710 | $199,940 | $272,310 |
Source: Ownwell
Property Tax Bills Across Eldon, Iowa
Property tax bills in Eldon, located in Davis County, IA, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor, who evaluates various factors including the property's market value, location, and any improvements made. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. In Eldon, the median home price is $153,710. Homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $1,847, while at the 75th percentile, it rises to approximately $3,502. For those at the 90th percentile, the tax bill can reach up to $3,612. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners should be aware that higher assessed values and tax rates directly translate to higher property tax bills, impacting their annual financial planning.
Average Eldon Tax Bill
$2,748
Average Davis County Tax Bill
$2,254
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Eldon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52554 | $1,534 | $1,847 | $2,748 | $3,502 | $3,612 |
Source: Ownwell