Baxter, Iowa Property Taxes
The median property tax rate in Baxter, IA is 1.70%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Baxter at $188,200, the typical annual property tax bill reaches $2,994, exceeding the national median of $2,690. Property taxes in Baxter 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 Baxter'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 Baxter 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
Baxter, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$3,199
Ownwell’s Baxter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baxter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baxter 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 Baxter, Iowa
Property taxes in Baxter, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baxter is 1.10%, which is higher than the Iowa state median of 1.53% but notably higher than the U.S. national median of 0.99%. Local government entities within Baxter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baxter 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 Baxter's effective property tax rate to other counties in Iowa and the national median. For comparison, the highest median property tax rate in Jasper County is 1.10%, while the lowest median tax rate is also 1.10%. Understanding how these cities compare with Baxter provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baxter Tax Rate
1.70%
Average Jasper County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baxter, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50028 | 1.24% | 1.30% | 1.70% | 1.82% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Baxter, Iowa
In Baxter, 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 Jasper County 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 Baxter, 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 Baxter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Baxter is $2,994 in the 50028 zip code, while the lowest median tax bill is also $2,994 in the same zip code.
Average Baxter Assessed Value
$188,200
Average Jasper County Assessed Value
$166,390
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baxter, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50028 | $96,412 | $139,740 | $188,200 | $285,240 | $400,452 |
Source: Ownwell
Property Tax Bills Across Baxter, Iowa
In Baxter, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting current real estate conditions. Baxter falls within Jasper County, where the median home price is $188,200. Homeowners in Baxter can expect varying tax bills depending on their property's assessed value and local tax rates. For instance, tax bills in Baxter range significantly, with the 25th percentile at $2,226 and the 75th percentile reaching $4,230. At the 90th percentile, homeowners might see tax bills as high as $5,654. These figures highlight the variability in tax burdens based on property values and the specific rates applied. Compared to the national median property tax rate of 0.99%, Baxter's property tax rates can lead to substantial annual costs for homeowners. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Baxter Tax Bill
$2,994
Average Jasper County Tax Bill
$2,548
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Baxter, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50028 | $1,526 | $2,226 | $2,994 | $4,230 | $5,654 |
Source: Ownwell