Fredonia, Iowa Property Taxes
The median property tax rate in Fredonia, IA is 1.23%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Fredonia, the typical annual property tax bill amounts to $950, which is below the national median of $2,690. Property taxes in Fredonia are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Fredonia'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 Fredonia 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
Fredonia, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$152
Ownwell’s Fredonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fredonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredonia 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 Fredonia, Iowa
Property taxes in Fredonia, Iowa, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredonia is 1.23%, which is higher than the U.S. national median of 0.99%. Local government entities within Fredonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredonia 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 Fredonia's effective property tax rate to other areas and the national median. For comparison, the zip code 52738 has the highest median property tax rate of 1.23%, while the lowest median tax rate is also found in the same zip code at 1.23%. Understanding how these cities compare with Fredonia provides valuable insights into the varying tax landscape across Louisa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredonia Tax Rate
1.23%
Average Louisa County Tax Rate
1.21%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredonia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52738 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Fredonia, Iowa
In Fredonia, 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 Louisa 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 Fredonia, 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 Fredonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fredonia is $12,330, with the highest and lowest median tax bills both being $950 in the 52738 zip code.
Average Fredonia Assessed Value
$12,330
Average Louisa County Assessed Value
$108,425
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredonia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52738 | $9,202 | $10,375 | $12,330 | $44,900 | $64,442 |
Source: Ownwell
Property Tax Bills Across Fredonia, Iowa
In Fredonia, located in Louisa County, IA, property tax bills are calculated based on the assessed value of a home. The county assessor determines this value, which is meant to reflect the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. In Fredonia, the median home price is $12,330, and the property tax rate is relatively high compared to the national median rate of 0.99%. Homeowners in Fredonia can expect their tax bills to be around $950, regardless of whether they fall into the 25th, 75th, or 90th percentile, as the tax bill remains consistent across these percentiles. This uniformity indicates a standardized approach to property taxation in the area. The property tax burden can significantly impact homeowners, especially those on a fixed income, as it represents a substantial portion of the home’s value. Understanding how these taxes are calculated can help homeowners plan their finances more effectively.
Average Fredonia Tax Bill
$950
Average Louisa County Tax Bill
$1,366
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredonia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52738 | $950 | $950 | $950 | $950 | $950 |
Source: Ownwell