Clermont, Iowa Property Taxes
The median property tax rate in Clermont, IA is 1.33%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Clermont at $126,050, the typical annual property tax bill reaches $1,612, still below the national median of $2,690. Property taxes in Clermont are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clermont'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 Clermont 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
Clermont, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,676
Ownwell’s Clermont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clermont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clermont 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 Clermont, Iowa
Property taxes in Clermont, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clermont is 1.33%, higher than the U.S. national median of 0.99%. Local government entities within Clermont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clermont 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 Clermont's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 52135 has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Clermont provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clermont Tax Rate
1.33%
Average Fayette County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clermont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52135 | 0.98% | 1.18% | 1.33% | 1.43% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Clermont, Iowa
In Clermont, 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 Fayette 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 Clermont, 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 Clermont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52135 has the highest and lowest median tax bill, both at $1,612, compared to the national median property tax rate of 0.99%.
Average Clermont Assessed Value
$126,050
Average Fayette County Assessed Value
$118,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clermont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52135 | $36,242 | $74,008 | $126,050 | $195,605 | $293,322 |
Source: Ownwell
Property Tax Bills Across Clermont, Iowa
In Clermont, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Clermont, the median home price is $126,050. When comparing property tax bills, the 25th percentile tax bill is $888, while the 75th percentile tax bill rises to $2,510. At the 90th percentile, homeowners can expect a tax bill around $3,742. These figures reflect the variability in property taxes within the region, influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Clermont’s tax rates can result in significantly different tax burdens for homeowners. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Clermont Tax Bill
$1,612
Average Fayette County Tax Bill
$1,568
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Clermont, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52135 | $468 | $888 | $1,612 | $2,510 | $3,742 |
Source: Ownwell