Danville, Henry County, Iowa Property Taxes
The median property tax rate in Danville, IA is 1.40%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Danville at $205,510, the typical annual property tax bill reaches $2,798, which is above the national median of $2,690. Property taxes in Danville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Danville'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 Danville or another part of Henry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Danville, Henry County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,877
$2,670
Ownwell’s DANVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DANVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DANVILLE 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 Danville, Henry County, Iowa
Property taxes in Danville, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danville is 1.40%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Danville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danville 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 Danville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52623 zip code has the highest median property tax rate of 1.40%, while the 52623 zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Danville provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danville Tax Rate
1.40%
Average Henry County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danville, Henry County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52623 | 1.18% | 1.32% | 1.40% | 1.47% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Danville, Henry County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Danville, Iowa. 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 Henry 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 Danville, 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 instance, the median home price in Danville is $205,510, with tax bills ranging from $1,659 at the 25th percentile to $5,668 at the 90th percentile. The zip code with the highest median tax bill is 52623, amounting to $2,798. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Danville, Henry County, Iowa
Source: Ownwell
$40,945
$123,228
$205,510
Average Danville Assessed Value
$205,510
Average Henry County Assessed Value
$136,180
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danville, Henry County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52623 | $64,114 | $129,780 | $205,510 | $290,630 | $388,128 |
Source: Ownwell
Property Tax Bills Across Danville, Henry County, Iowa
In Danville, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value. For instance, with a median home price of $205,510, the tax bill can vary significantly depending on the specific assessment and exemptions applicable. The calculation involves multiplying the assessed value by the local tax rate. In Danville, homeowners experience a wide range of tax bills. At the 25th percentile, tax bills are around $1,659, while those at the 75th percentile see bills closer to $4,150. The highest tax bills, at the 90th percentile, reach up to $5,668. This variability can significantly impact household budgets, making it essential for homeowners to understand their property tax obligations. Comparatively, the national median property tax rate is 0.99%, placing Danville's tax rates in a competitive position. Homeowners should stay informed about their assessed values and any available exemptions to manage their tax liabilities effectively.
Average Danville Tax Bill
$2,798
Average Henry County Tax Bill
$2,175
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Danville, Henry County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52623 | $953 | $1,659 | $2,798 | $4,150 | $5,668 |
Source: Ownwell