Clarence, Iowa Property Taxes
The median property tax rate in Clarence, IA is 1.13%, 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 $217,180 in Clarence, the typical annual property tax bill amounts to $2,454, slightly below the national median of $2,690. Property taxes in Clarence are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Clarence's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're residing in Clarence or investing in local real estate, gaining insights into the local property tax system is beneficial for managing expenses effectively.
Last Updated June 14, 2024
Clarence, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,454
Ownwell’s Clarence Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Clarence with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Clarence to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, you can find more localized information by scrolling down. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Clarence, Iowa
Property taxes in Clarence, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarence is 1.13%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Clarence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarence 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 Clarence's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52216 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Clarence provides valuable insights into the varying tax landscape across Jones County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarence Tax Rate
1.13%
Average Jones County Tax Rate
1.38%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarence, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52216 | 0.97% | 1.04% | 1.13% | 1.19% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Clarence, Iowa
In Clarence, 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 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 Clarence, 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 Clarence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 52216, with a median tax bill of $2,454.
Average Clarence Assessed Value
$217,180
Average Jones County Assessed Value
$156,350
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarence, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52216 | $130,880 | $173,440 | $217,180 | $281,070 | $466,740 |
Source: Ownwell
Property Tax Bills Across Clarence, Iowa
In Clarence, IA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and any improvements made to the property can influence the assessed value. Homeowners in Clarence can expect varying tax bills. For example, the tax bill for the 25th percentile is $2,047, while those in the 75th percentile pay around $3,302. The top 10% of homeowners face even higher bills, with the 90th percentile reaching $5,434. The median home price in the area is $217,180, which helps put these figures into perspective. Compared to the national median property tax rate of 0.99%, Clarence's property tax rates can significantly impact homeowners, depending on their property's assessed value and the local tax rate.
Average Clarence Tax Bill
$2,454
Average Jones County Tax Bill
$2,222
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarence, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52216 | $1,408 | $2,047 | $2,454 | $3,302 | $5,434 |
Source: Ownwell