New London, Des Moines County, Iowa Property Taxes
The median property tax rate in New London, IA is 1.32%, higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $158,100 in New London, the typical annual property tax bill is around $2,000, which is below the national median of $2,690. Property taxes in New London are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding New London'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 New London 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
New London, Des Moines County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$2,087
$1,937
Ownwell’s New London Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New London with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New London 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 New London, Des Moines County, Iowa
Property taxes in New London, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New London is 1.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within New London set these rates annually, and they can vary significantly across different neighborhoods. Each year, New London 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 New London's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52645 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with New London provides valuable insights into the varying tax landscape across Des Moines County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New London Tax Rate
1.32%
Average Des Moines County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across New London, Des Moines County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52645 | 0.98% | 1.12% | 1.32% | 1.40% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across New London, Des Moines County, Iowa
In New London, 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 Des Moines 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 New London, 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 New London helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in New London is $158,100, with tax bills ranging from $1,046 at the 25th percentile to $4,170 at the 90th percentile. The zip code 52645 has both the highest and lowest median tax bill at $2,000.
Property Tax Assessment Values Across New London, Des Moines County, Iowa
Source: Ownwell
$40,950
$109,050
$177,150
Average New London Assessed Value
$158,100
Average Des Moines County Assessed Value
$105,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New London, Des Moines County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52645 | $22,950 | $92,325 | $158,100 | $240,850 | $316,730 |
Source: Ownwell
Property Tax Bills Across New London, Des Moines County, Iowa
In New London, 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 is intended to reflect the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. For instance, the median home price in New London is $158,100. Homeowners in the 25th percentile can expect a tax bill around $1,046, while those in the 75th percentile might see bills as high as $2,934. The 90th percentile tax bill can reach up to $4,170. These figures demonstrate the range of property tax burdens homeowners may face, emphasizing the importance of understanding how local assessments and tax rates impact their financial obligations. Comparing these figures to the national median property tax rate of 0.99% highlights how local variations can significantly affect homeowners' annual expenses.
Average New London Tax Bill
$2,000
Average Des Moines County Tax Bill
$1,606
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across New London, Des Moines County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52645 | $214 | $1,046 | $2,000 | $2,934 | $4,170 |
Source: Ownwell