Woden, Iowa Property Taxes
The median property tax rate in Woden, IA is 2.86%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Woden at $78,982, the typical annual property tax bill reaches $2,256, which is below the national median of $2,690. Property taxes in Woden 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 Woden'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 Woden 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
Woden, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.86%
Estimate Property Tax Bill
$2,259
Ownwell’s Woden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woden 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 Woden, Iowa
Property taxes in Woden, IA, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woden is 2.86%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Woden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woden 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 Woden's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50484 zip code has the highest median property tax rate of 2.86%, while the same zip code also has the lowest median tax rate of 2.86%. Understanding how these cities compare with Woden 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 Woden Tax Rate
2.86%
Average Kossuth County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woden, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50484 | 2.69% | 2.75% | 2.86% | 3.23% | 3.45% |
Source: Ownwell
Property Tax Assessment Values Across Woden, Iowa
In Woden, 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 Woden, 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 Woden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 50484 has both the highest and lowest median tax bills at $2,256, reflecting the uniformity in assessed values within the area.
Average Woden Assessed Value
$78,982
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 Woden, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50484 | $59,248 | $66,648 | $78,982 | $88,524 | $94,249 |
Source: Ownwell
Property Tax Bills Across Woden, Iowa
In Woden, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Kossuth County. The assessed value is determined by local assessors who evaluate the property's market value. Once the assessment is complete, the tax rate is applied to this value to calculate the annual tax bill. Several factors influence the final tax bill, including changes in the local tax rate, property improvements, and shifts in market conditions. For homeowners in Woden, the median home price is $78,982. Tax bills in the area can vary significantly, with the 25th percentile at $2,106 and the 75th percentile at $2,426. The 90th percentile tax bill reaches up to $2,528. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and funding needs. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Woden Tax Bill
$2,256
Average Kossuth County Tax Bill
$1,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Woden, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50484 | $2,016 | $2,106 | $2,256 | $2,426 | $2,528 |
Source: Ownwell