Riverton, Fremont County, Iowa Property Taxes
The median property tax rate in Riverton, IA is 1.34%, 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 Riverton being $72,320, the typical annual property tax bill reaches $988, falling below the national median of $2,690. Property taxes in Riverton are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Riverton'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 Riverton 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
Riverton, Fremont County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$969
$899
Ownwell’s Riverton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverton 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 Riverton, Fremont County, Iowa
Property taxes in Riverton, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverton is 1.34%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Riverton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverton 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 Riverton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51650 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Riverton provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverton Tax Rate
1.34%
Average Fremont County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverton, Fremont County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51650 | 0.74% | 1.03% | 1.34% | 1.65% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Riverton, Fremont County, Iowa
In Riverton, 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 Fremont 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 Riverton, 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. Riverton’s median home price is $72,320, with tax bills ranging from $400 at the 25th percentile to $2,428 at the 90th percentile. The highest median tax bill in the area is $988 in the 51650 zip code. 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 Riverton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Riverton, Fremont County, Iowa
Source: Ownwell
$72,320
$126,415
$180,510
Average Riverton Assessed Value
$72,320
Average Fremont County Assessed Value
$118,270
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverton, Fremont County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51650 | $13,182 | $32,360 | $72,320 | $123,890 | $190,446 |
Source: Ownwell
Property Tax Bills Across Riverton, Fremont County, Iowa
In Riverton, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by the local assessor's office and is typically a percentage of the market value. Homeowners in Riverton, located in Fremont County, Iowa, can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $400, while at the 75th percentile, it rises to approximately $1,719. At the 90th percentile, it can reach up to $2,428. These variations are influenced by factors such as property size, location, and any applicable exemptions or deductions. The median home price in Riverton is $72,320, which helps contextualize these tax bills. Compared to the national median property tax rate of 0.99%, Riverton's property taxes can be seen as relatively moderate. Understanding these factors is crucial for homeowners, as property taxes directly impact annual housing costs and overall affordability.
Average Riverton Tax Bill
$988
Average Fremont County Tax Bill
$1,562
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverton, Fremont County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51650 | $142 | $400 | $988 | $1,719 | $2,428 |
Source: Ownwell