Epworth, Iowa Property Taxes
The median property tax rate in Epworth, IA is 1.17%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Epworth being $252,050, the typical annual property tax bill reaches $2,800, surpassing the national median of $2,690. Property taxes in Epworth are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Epworth'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 Epworth 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
Epworth, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$2,949
Ownwell’s Epworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Epworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Epworth 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 Epworth, Iowa
Property taxes in Epworth, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Epworth is 1.17%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Epworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Epworth 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 Epworth's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52045 zip code has both the highest and lowest median property tax rate of 1.17%. Understanding how these cities compare with Epworth 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 Epworth Tax Rate
1.17%
Average Dubuque County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Epworth, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52045 | 0.89% | 1.05% | 1.17% | 1.24% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Epworth, Iowa
In Epworth, 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 Epworth, 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 Epworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Epworth is $252,050, with the 25th percentile tax bill at $2,077 and the 75th percentile tax bill at $3,711, while the 90th percentile tax bill reaches $4,701.
Average Epworth Assessed Value
$252,050
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 Epworth, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52045 | $138,096 | $188,950 | $252,050 | $326,275 | $413,564 |
Source: Ownwell
Property Tax Bills Across Epworth, Iowa
In Epworth, located in Dubuque County, IA, property tax bills are calculated based on the assessed value of a home. The assessment process determines the market value of the property, which is then multiplied by the local tax rate. Several factors influence the tax bill, including the property's location, size, and any improvements made. For homeowners in Epworth, the median home price is $252,050. Tax bills can vary significantly, with the 25th percentile at $2,077 and the 75th percentile reaching $3,711. At the higher end, the 90th percentile tax bill is $4,701. Notably, the highest median tax bill in the area is $2,800, found in the 52045 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Epworth may find their tax rates competitive, but the actual amount owed can vary widely. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Epworth Tax Bill
$2,800
Average Dubuque County Tax Bill
$2,714
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Epworth, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52045 | $1,436 | $2,077 | $2,800 | $3,711 | $4,701 |
Source: Ownwell