Swisher, Iowa Property Taxes
The median property tax rate in Swisher, IA is 1.61%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Swisher, the typical annual property tax bill reaches $4,314, exceeding the national median of $2,690. Property taxes in Swisher 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 Swisher'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 Swisher 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
Swisher, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$3,954
Ownwell’s Swisher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swisher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swisher 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 Swisher, Iowa
Property taxes in Swisher, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swisher is 1.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Swisher set these rates annually, and they can vary across different neighborhoods. Each year, Swisher 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 Swisher's effective property tax rate to other areas in Linn County and the national median. For comparison, the zip code 52338 has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these figures compare with Swisher provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swisher Tax Rate
1.61%
Average Linn County Tax Rate
1.84%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swisher, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52338 | 1.46% | 1.47% | 1.61% | 1.75% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Swisher, Iowa
In Swisher, 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 Linn 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 Swisher, 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 Swisher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Swisher are both $4314, found in the zip code 52338.
Average Swisher Assessed Value
$245,600
Average Linn County Assessed Value
$173,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swisher, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52338 | $204,420 | $213,900 | $245,600 | $295,800 | $407,600 |
Source: Ownwell
Property Tax Bills Across Swisher, Iowa
In Swisher, located in Linn County, IA, property tax bills are calculated based on the assessed value of a home, which reflects its market value. Homeowners in Swisher see their tax bills determined by multiplying the assessed value by the local tax rate. For example, with a median home price of $245,600, the property tax bill can vary significantly. Homeowners in the 25th percentile may pay around $3,695, while those in the 75th percentile might see bills up to $4,986. At the 90th percentile, property taxes can reach $6,147. Factors such as property size, location, and any applicable exemptions also influence the final tax bill. This variability can have a substantial impact on homeowners, affecting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, homeowners in Swisher may experience higher or lower tax burdens depending on these assessed values and local rates.
Average Swisher Tax Bill
$4,314
Average Linn County Tax Bill
$3,328
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Swisher, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52338 | $3,519 | $3,695 | $4,314 | $4,986 | $6,147 |
Source: Ownwell