Keswick, Iowa Property Taxes
The median property tax rate in Keswick, IA is 1.21%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $147,000 in Keswick, the typical annual property tax bill amounts to $1,956, falling below the national median of $2,690. Property taxes in Keswick are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Keswick's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you reside in the heart of Keswick or another area within Iowa County, gaining insight into the local property tax structure will prove beneficial.
Last Updated June 14, 2024
Keswick, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,779
Ownwell’s Keswick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keswick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keswick 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 Keswick, Iowa
Property taxes in Keswick, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keswick is 1.21%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Keswick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keswick 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 Keswick's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50136 zip code has both the highest and lowest median property tax rate of 1.21%. Understanding how these cities compare with Keswick provides valuable insights into the varying tax landscape across Iowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keswick Tax Rate
1.21%
Average Iowa County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keswick, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50136 | 1.02% | 1.13% | 1.21% | 1.26% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Keswick, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Keswick, Iowa. The market value is the price a willing buyer would pay to 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 local appraisal district 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 Keswick, 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 Keswick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50136 in Keswick has both the highest and lowest median tax bill, standing at $1,956. By understanding these nuances, you can make informed decisions to potentially lower your property tax obligations.
Average Keswick Assessed Value
$147,000
Average Iowa County Assessed Value
$157,090
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keswick, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50136 | $126,824 | $136,195 | $147,000 | $270,080 | $297,188 |
Source: Ownwell
Property Tax Bills Across Keswick, Iowa
Property tax bills in Keswick, Iowa, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $147,000, homeowners can expect varying tax bills depending on the precise assessed value and applicable exemptions. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. The tax bill also varies within different percentiles; for example, the 25th percentile tax bill is around $1,564, while the 75th percentile reaches $3,113. Homeowners in Keswick face a tax burden that can significantly impact their finances, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners plan better for their annual expenses and manage their budgets effectively.
Average Keswick Tax Bill
$1,956
Average Iowa County Tax Bill
$2,134
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Keswick, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50136 | $1,428 | $1,564 | $1,956 | $3,113 | $3,448 |
Source: Ownwell