Calumet, O'brien County, Iowa Property Taxes
The median property tax rate in Calumet, IA is 1.05%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Calumet at $63,140, the typical annual property tax bill is $656, which is below the national median of $2,690. Property taxes in Calumet are calculated based on the tax-assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Calumet'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 Calumet 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
Calumet, O'brien County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$663
$615
Ownwell’s Calumet Property Tax Bill Calculator assists homeowners, real estate investors, and potential owners in estimating their annual property taxes in Calumet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calumet to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, simply scroll down to find more localized information. Your property’s assessed value is the value assigned by O'Brien County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Calumet, O'brien County, Iowa
Property taxes in Calumet, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calumet is 1.05%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Calumet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calumet 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 Calumet's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51009 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Calumet provides valuable insights into the varying tax landscape across O'Brien County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calumet Tax Rate
1.05%
Average O'brien County Tax Rate
1.20%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calumet, O'brien County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51009 | 0.87% | 0.97% | 1.05% | 1.17% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Calumet, O'brien County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Calumet, Iowa. 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 local 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 Calumet, 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. For instance, the median home price in Calumet is $63,140, with tax bills ranging from $330 at the 25th percentile to $1,396 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Awareness of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Calumet, O'brien County, Iowa
Source: Ownwell
$63,140
$142,140
$221,140
Average Calumet Assessed Value
$63,140
Average O'brien County Assessed Value
$120,840
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calumet, O'brien County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51009 | $6,594 | $33,540 | $63,140 | $99,280 | $130,574 |
Source: Ownwell
Property Tax Bills Across Calumet, O'brien County, Iowa
In Calumet, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. Homeowners in Calumet, located in O'Brien County, can expect their property tax bills to vary widely depending on their property's assessed value and the applicable tax rate. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in Calumet is $63,140. Property tax bills range from the 25th percentile at $330 to the 75th percentile at $994, with the 90th percentile reaching up to $1396 annually. These tax bills contribute to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Calumet's tax rates can be considered moderate, providing essential services while maintaining affordability for homeowners.
Average Calumet Tax Bill
$656
Average O'brien County Tax Bill
$1,404
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Calumet, O'brien County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51009 | $74 | $330 | $656 | $994 | $1,396 |
Source: Ownwell