Winfield, Henry County, Iowa Property Taxes
The median property tax rate in Winfield, IA is 1.46%, which is considerably higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With a median home value of $115,460 in Winfield, the typical annual property tax bill comes to $1,660, which is below the national median of $2,690. Property taxes in Winfield 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 Winfield'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 Winfield 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
Winfield, Henry County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,686
$1,564
Ownwell’s WINFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WINFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WINFIELD 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 Winfield, Henry County, Iowa
Property taxes in Winfield, Iowa, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Winfield is 1.46%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Winfield set these rates annually, and they can vary across different neighborhoods. Each year, Winfield 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 Winfield's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52659 zip code has both the highest and lowest median property tax rate of 1.46%. Understanding how these areas compare with Winfield 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 Winfield Tax Rate
1.46%
Average Henry County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winfield, Henry County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52659 | 1.24% | 1.36% | 1.46% | 1.58% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Winfield, Henry County, Iowa
In Winfield, 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 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 Winfield, 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. The median home price in Winfield is $115,460, with tax bills ranging from $1,016 at the 25th percentile to $3,474 at the 90th percentile. The highest and lowest median tax bills both stand at $1,660 in the 52659 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 Winfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Winfield, Henry County, Iowa
Source: Ownwell
$40,945
$123,228
$205,510
Average Winfield Assessed Value
$115,460
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 Winfield, Henry County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52659 | $37,126 | $70,780 | $115,460 | $169,380 | $236,612 |
Source: Ownwell
Property Tax Bills Across Winfield, Henry County, Iowa
Property tax bills in Winfield, located in Henry County, IA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. This ratio can vary but is essential in determining the taxable value of the property. The local tax rate is then applied to this assessed value to calculate the property tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. For homeowners in Winfield, the median home price is $115,460. The tax bill can range significantly, with the 25th percentile at $1,016 and the 75th percentile at $2,378, reflecting variations in property values and tax rates. Homeowners in the 90th percentile might see tax bills as high as $3,474. These property taxes contribute to essential community services, impacting the overall quality of life for residents.
Average Winfield Tax Bill
$1,660
Average Henry County Tax Bill
$2,175
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Winfield, Henry County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52659 | $468 | $1,016 | $1,660 | $2,378 | $3,474 |
Source: Ownwell