Brighton, Iowa Property Taxes
The median property tax rate in Brighton, IA is 1.08%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $133,200 in Brighton, the typical annual property tax bill amounts to $1,505, which is below the national median of $2,690. Property taxes in Brighton are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Brighton'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 Brighton 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
Brighton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,439
Ownwell’s Brighton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Brighton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brighton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Jefferson County for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Brighton, Iowa
Property taxes in Brighton, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brighton is 1.08%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Brighton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brighton 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 Brighton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52540 zip code has the highest median property tax rate of 1.08%, while the 52540 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Brighton provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brighton Tax Rate
1.08%
Average Jefferson County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brighton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52540 | 0.87% | 0.98% | 1.08% | 1.21% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Brighton, Iowa
In Brighton, 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 Jefferson 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 Brighton, 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. For example, the median home price in Brighton is $133,200, with tax bills ranging from $818 at the 25th percentile to $3,153 at the 90th percentile. The highest median tax bill is $1,505 in zip code 52540, which is also the lowest median tax bill in the area. 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 Brighton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brighton Assessed Value
$133,200
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 Brighton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52540 | $29,520 | $76,400 | $133,200 | $202,850 | $290,020 |
Source: Ownwell
Property Tax Bills Across Brighton, Iowa
In Brighton, IA, located in Jefferson County, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For Brighton, the median home price is $133,200, which serves as a baseline for these calculations. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For example, property tax bills in Brighton can vary significantly, with the 25th percentile tax bill at $818 and the 75th percentile at $2,278. The 90th percentile tax bill can reach as high as $3,153, indicating a wide range in tax obligations depending on property value and other factors. Compared to the national median property tax rate of 0.99%, Brighton's property taxes reflect the local economic conditions and funding needs for public services. For homeowners, understanding these factors is crucial for financial planning and anticipating yearly expenses.
Average Brighton Tax Bill
$1,505
Average Jefferson County Tax Bill
$1,806
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Brighton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52540 | $411 | $818 | $1,505 | $2,278 | $3,153 |
Source: Ownwell