Whittemore, Iowa Property Taxes
The median property tax rate in Whittemore, IA is 1.58%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Whittemore at $87,392, the typical annual property tax bill reaches $1,428, exceeding the national median of $2,690. Property taxes in Whittemore 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 Whittemore'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 Whittemore 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
Whittemore, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$1,381
Ownwell’s Whittemore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whittemore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whittemore 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 Whittemore, Iowa
Property taxes in Whittemore, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whittemore is 1.58%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Whittemore set these rates annually, and they can vary across different neighborhoods. Each year, Whittemore 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 Whittemore's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50598 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Whittemore provides valuable insights into the varying tax landscape across Kossuth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whittemore Tax Rate
1.58%
Average Kossuth County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whittemore, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50598 | 0.87% | 1.31% | 1.58% | 1.74% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Whittemore, Iowa
In Whittemore, 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 Kossuth 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 Whittemore, 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 Whittemore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Whittemore are both $1,428, found in zip code 50598.
Average Whittemore Assessed Value
$87,392
Average Kossuth County Assessed Value
$85,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whittemore, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50598 | $22,283 | $53,719 | $87,392 | $132,510 | $195,845 |
Source: Ownwell
Property Tax Bills Across Whittemore, Iowa
Property tax bills in Whittemore, located in Kossuth County, IA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is reviewed periodically. For homeowners in Whittemore, the median home price stands at $87,392. Tax bills can vary significantly; the 25th percentile tax bill is $898, while the 75th percentile reaches $2,192, and the 90th percentile goes up to $3,038. Factors influencing these tax bills include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Whittemore's tax rates can result in a substantial financial burden for homeowners, especially those with higher-valued properties. These taxes fund essential public services such as schools, roads, and emergency services, making them a critical component of the community's infrastructure. Homeowners should regularly review their property assessments and explore potential exemptions to manage their tax liabilities effectively.
Average Whittemore Tax Bill
$1,428
Average Kossuth County Tax Bill
$1,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Whittemore, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50598 | $476 | $898 | $1,428 | $2,192 | $3,038 |
Source: Ownwell