Wahpeton, Iowa Property Taxes
The median property tax rate in Wahpeton, IA is 0.82%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $23,300 in Wahpeton, the typical annual property tax bill amounts to $198, significantly below the national median of $2,690. Property taxes in Wahpeton are calculated based on the assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Wahpeton'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 Wahpeton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wahpeton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$191
Ownwell’s Wahpeton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wahpeton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wahpeton 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 Wahpeton, Iowa
Property taxes in Wahpeton, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wahpeton is 1.23%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Wahpeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wahpeton 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 Wahpeton's effective property tax rate to other counties in Iowa and the national median. For comparison, the highest median property tax rate in Dickinson County is 1.53%, while the lowest median tax rate is 1.53%. Understanding how these cities compare with Wahpeton provides valuable insights into the varying tax landscape across Dickinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wahpeton Tax Rate
0.82%
Average Dickinson County Tax Rate
0.82%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wahpeton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51360 | 0.58% | 0.67% | 0.82% | 0.85% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Wahpeton, Iowa
In Wahpeton, 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 Dickinson 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 Wahpeton, 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 Wahpeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wahpeton is $198.00 in the 51360 zip code, which is also the lowest median tax bill, highlighting the uniformity in property tax burdens within the area.
Average Wahpeton Assessed Value
$23,300
Average Dickinson County Assessed Value
$263,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wahpeton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51360 | $4,200 | $14,050 | $23,300 | $74,450 | $280,250 |
Source: Ownwell
Property Tax Bills Across Wahpeton, Iowa
Property tax bills in Wahpeton, Dickinson County, IA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Wahpeton, the median home price is $23,300, which significantly influences the tax bill. Homeowners in Wahpeton experience varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $88, while at the 75th percentile, it rises to $200. The tax bill at the 90th percentile can reach up to $1,166. Compared to the national median property tax rate of 0.99%, Wahpeton's tax rates result in relatively lower tax bills, making it more affordable for homeowners. These property taxes fund essential public services, including schools, infrastructure, and emergency services, directly impacting the quality of life in the community.
Average Wahpeton Tax Bill
$198
Average Dickinson County Tax Bill
$2,470
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Wahpeton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51360 | $47 | $88 | $198 | $200 | $1,166 |
Source: Ownwell