Woodbine, Iowa Property Taxes
The median property tax rate in Woodbine, IA is 1.45%, which is significantly higher than the national median of 0.99% but slightly below Iowa's state median of 1.54%. With a median home value of $156,510 in Woodbine, the typical annual property tax bill amounts to $2,116, still below the national median of $2,690. Property taxes in Woodbine are based on the tax assessed value, often lower than market value due to exemptions such as those for primary residences and agricultural properties. Grasping Woodbine's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial yearly savings. Whether you're located in the heart of Woodbine or its surrounding areas, understanding the local property tax landscape is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Woodbine, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$2,269
Ownwell’s Woodbine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodbine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbine 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 Woodbine, Iowa
Property taxes in Woodbine, Iowa, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodbine is 1.45%, which is notably higher than the national median of 0.99%. Local government entities within Woodbine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbine 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 Woodbine's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51579 has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with Woodbine provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodbine Tax Rate
1.45%
Average Harrison County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodbine, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51579 | 1.08% | 1.15% | 1.45% | 1.59% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Woodbine, Iowa
In Woodbine, 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 Harrison County Assessor's Office 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 Woodbine, 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 Woodbine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,116 in the 51579 zip code, aligning with the lowest median tax bill also at $2,116.
Average Woodbine Assessed Value
$156,510
Average Harrison County Assessed Value
$150,125
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodbine, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51579 | $53,131 | $97,454 | $156,510 | $243,310 | $361,037 |
Source: Ownwell
Property Tax Bills Across Woodbine, Iowa
In Woodbine, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor’s office. This assessed value is then multiplied by the property tax rate set by Harrison County. The national median property tax rate is 0.99%, but local rates can vary significantly. For instance, a home with a median price of $156,510 in Woodbine can expect a tax bill ranging from $1,384 at the 25th percentile to $3,184 at the 75th percentile, and up to $4,666 at the 90th percentile. Several factors influence the final tax bill, including property improvements, neighborhood developments, and changes in local government budgets. Homeowners in Woodbine should be aware that these variables can cause fluctuations in their annual property tax obligations. Understanding how these elements interact can help homeowners better anticipate and manage their property taxes, ensuring they are prepared for any potential changes in their financial responsibilities.
Average Woodbine Tax Bill
$2,116
Average Harrison County Tax Bill
$1,959
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodbine, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51579 | $466 | $1,384 | $2,116 | $3,184 | $4,666 |
Source: Ownwell