Jefferson County Property Taxes
The median property tax rate in Jefferson County is 1.39%, which is higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With the median home value in Jefferson County at $132,500, the typical annual property tax bill amounts to $1,806, which is below the national median of $2,690. Property taxes in Jefferson County are calculated based on the assessed value, which is often less than the actual market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jefferson County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Fairfield or another part of Jefferson County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jefferson County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,842
Ownwell’s Jefferson County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Jefferson County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Jefferson County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Jefferson County, Iowa
Property taxes in Jefferson County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Jefferson County is 1.39%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Jefferson County set these rates annually, and they can vary significantly between different areas within the county. Each year, Jefferson County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Wayland has one of the higher property tax rates in Iowa at 1.60%, while the city of Birmingham boasts one of the lowest at 0.94%. Analyzing how Jefferson County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Jefferson County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batavia | 0.89% | 0.99% | 1.11% | 1.25% | 1.42% |
| Birmingham | 0.83% | 0.91% | 0.94% | 0.95% | 1.02% |
| Brighton | 0.87% | 0.98% | 1.08% | 1.21% | 1.37% |
| Eldon | 1.02% | 1.07% | 1.17% | 1.21% | 1.22% |
| Fairfield | 0.95% | 1.11% | 1.50% | 1.62% | 1.76% |
| Hedrick | 1.01% | 1.02% | 1.07% | 1.18% | 1.25% |
| Libertyville | 0.91% | 0.97% | 1.10% | 1.24% | 1.31% |
| Lockridge | 0.90% | 0.96% | 1.05% | 1.21% | 1.31% |
| Mount Pleasant | 1.04% | 1.08% | 1.14% | 1.22% | 1.25% |
| Ollie | 1.01% | 1.02% | 1.03% | 1.07% | 1.08% |
| Packwood | 0.94% | 1.05% | 1.16% | 1.31% | 1.41% |
| Richland | 0.95% | 0.99% | 1.09% | 1.18% | 1.29% |
| Selma | 0.90% | 0.95% | 0.98% | 1.07% | 1.40% |
| Stockport | 0.92% | 0.95% | 1.00% | 1.03% | 1.10% |
| Wayland | 1.09% | 1.14% | 1.60% | 1.66% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson County, Iowa
In Jefferson County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Jefferson County Appraisal District. The assessed value, however, 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. Assessment notices in Jefferson County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Jefferson County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Jefferson County, Ollie has the highest median tax bill at $2,150, while Batavia has the lowest at $1,120.
Average Jefferson County Assessed Value
$132,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batavia | $22,170 | $54,650 | $102,800 | $162,400 | $228,140 |
| Birmingham | $66,180 | $143,850 | $199,600 | $253,450 | $311,260 |
| Brighton | $29,520 | $76,400 | $133,200 | $202,850 | $290,020 |
| Eldon | $26,520 | $113,775 | $150,800 | $194,050 | $242,650 |
| Fairfield | $41,400 | $84,000 | $137,700 | $211,800 | $322,800 |
| Hedrick | $120,480 | $135,800 | $145,000 | $202,600 | $266,240 |
| Libertyville | $28,750 | $68,775 | $128,250 | $200,050 | $283,100 |
| Lockridge | $22,100 | $57,400 | $108,500 | $177,700 | $289,900 |
| Mount Pleasant | $37,500 | $75,000 | $140,200 | $158,800 | $259,620 |
| Ollie | $132,100 | $156,100 | $196,100 | $246,900 | $277,380 |
| Packwood | $11,640 | $42,900 | $105,750 | $172,450 | $256,720 |
| Richland | $90,930 | $122,800 | $200,982 | $316,425 | $384,720 |
| Selma | $51,900 | $107,800 | $126,150 | $151,850 | $188,000 |
| Stockport | $40,900 | $119,900 | $165,100 | $195,500 | $234,900 |
| Wayland | $8,740 | $13,000 | $93,100 | $205,200 | $232,020 |
Source: Ownwell
Property Tax Bills Across Jefferson County, Iowa
In Jefferson County, IA, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. The median home price in Jefferson County is $132,500. Property taxes are then applied to this assessed value using the county’s tax rate. For example, homeowners in Jefferson County experience a range of tax bills; the 25th percentile tax bill is $1,082, while the 75th percentile reaches $2,686. At the higher end, the 90th percentile tax bill is $3,940. Factors influencing these tax bills include the market value of the property, local tax rates, and any applicable exemptions or deductions. These property taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding these factors is crucial as they directly impact annual financial planning. Notably, Jefferson County’s property tax rates can vary significantly by city, with OLLIE having the highest median tax bill at $2,150 and BATAVIA the lowest at $1,120. Comparing these figures to the national median property tax rate of 0.99% offers a clearer perspective on local tax burdens.
Average Jefferson County Tax Bill
$1,806
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batavia | $292 | $630 | $1,120 | $1,718 | $2,426 |
| Birmingham | $624 | $1,257 | $1,652 | $2,058 | $2,628 |
| Brighton | $411 | $818 | $1,505 | $2,278 | $3,153 |
| Eldon | $318 | $1,178 | $1,707 | $2,166 | $2,949 |
| Fairfield | $654 | $1,248 | $1,980 | $2,896 | $4,364 |
| Hedrick | $1,347 | $1,390 | $1,704 | $2,382 | $2,819 |
| Libertyville | $371 | $790 | $1,422 | $2,184 | $2,809 |
| Lockridge | $258 | $636 | $1,167 | $1,876 | $2,886 |
| Mount Pleasant | $403 | $938 | $1,542 | $1,818 | $3,130 |
| Ollie | $1,364 | $1,659 | $2,150 | $2,615 | $2,894 |
| Packwood | $162 | $572 | $1,221 | $2,126 | $2,990 |
| Richland | $881 | $1,284 | $2,066 | $3,612 | $4,250 |
| Selma | $444 | $945 | $1,295 | $1,540 | $1,820 |
| Stockport | $776 | $1,202 | $1,551 | $1,882 | $2,392 |
| Wayland | $260 | $504 | $1,494 | $2,330 | $2,515 |
Source: Ownwell