Whitten, Iowa Property Taxes
The median property tax rate in Whitten, IA is 1.47%, which is significantly higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With a median home value of $49,590 in Whitten, the typical annual property tax bill amounts to $709, well below the national median of $2,690. Property taxes in Whitten are determined based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Whitten'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 Whitten or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitten, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$729
Ownwell’s Whitten Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitten with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitten 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 Whitten, Iowa
Property taxes in Whitten, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitten is 1.47%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Whitten set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitten 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 Whitten's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50269 zip code has the highest median property tax rate of 1.47%, while the 50269 zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Whitten provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitten Tax Rate
1.47%
Average Hardin County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitten, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50269 | 1.07% | 1.30% | 1.47% | 1.72% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Whitten, Iowa
In Whitten, 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 Hardin 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 Whitten, 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. For example, the median home price in Whitten is $49,590, with tax bills ranging significantly. The 25th percentile tax bill is $498, while the 75th percentile tax bill is $1,130. The highest and lowest median tax bills, both $709, are found in the 50269 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Whitten Assessed Value
$49,590
Average Hardin County Assessed Value
$94,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitten, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50269 | $17,089 | $32,172 | $49,590 | $73,200 | $85,602 |
Source: Ownwell
Property Tax Bills Across Whitten, Iowa
In Whitten, property tax bills are calculated based on the assessed value of a property, which is determined by the Hardin County assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors considered in the assessment include the property's market value, size, location, and condition. For example, a home with a median price of $49,590 in Whitten would have a tax bill that varies depending on its assessed value and the specific tax rate applied. Homeowners in Whitten can expect their property tax bills to fall within a range, with the 25th percentile tax bill at $498 and the 75th percentile at $1,130. The 90th percentile tax bill reaches up to $1,383. These figures indicate that property taxes can significantly impact household finances, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Whitten Tax Bill
$709
Average Hardin County Tax Bill
$1,480
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitten, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50269 | $311 | $498 | $709 | $1,130 | $1,383 |
Source: Ownwell