Asbury, Iowa Property Taxes
The median property tax rate in Asbury, IA is 1.36%, which is notably higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With a median home value of $319,000 in Asbury, the typical annual property tax bill amounts to $4,324, significantly surpassing the national median of $2,690. Property taxes in Asbury are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Asbury'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 Asbury or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Asbury, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$4,338
Ownwell’s Asbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Asbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Asbury 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 Asbury, Iowa
Property taxes in Asbury, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Asbury is 1.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within Asbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Asbury 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 Asbury's effective property tax rate to other areas in Dubuque County and the national median. For comparison, the 52002 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Asbury provides valuable insights into the varying tax landscape across Dubuque County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Asbury Tax Rate
1.36%
Average Dubuque County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Asbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52002 | 1.29% | 1.32% | 1.36% | 1.40% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Asbury, Iowa
In Asbury, 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 Dubuque 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 Asbury, 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 example, the 25th percentile tax bill in Asbury is $3,604, while the 75th percentile tax bill is $5,399. 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 Asbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Asbury Assessed Value
$319,000
Average Dubuque County Assessed Value
$216,801
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Asbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52002 | $221,900 | $265,600 | $319,000 | $391,800 | $468,740 |
Source: Ownwell
Property Tax Bills Across Asbury, Iowa
In Asbury, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Asbury is $319,000, and homeowners can expect varying tax bills depending on their property’s assessed value and the local tax rate. For instance, the 25th percentile tax bill is around $3,604, while the 75th percentile reaches up to $5,399, and the 90th percentile can be as high as $6,526. These figures highlight the range of property tax liabilities homeowners might face. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Asbury's property tax rates can be significant, impacting homeowners' annual financial planning. Understanding these factors helps homeowners anticipate their tax obligations and budget accordingly, ensuring they are well-prepared for their annual property tax bills.
Average Asbury Tax Bill
$4,324
Average Dubuque County Tax Bill
$2,714
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Asbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52002 | $2,986 | $3,604 | $4,324 | $5,399 | $6,526 |
Source: Ownwell