Kent, Iowa Property Taxes
The median property tax rate in Kent, Iowa is 1.41%, considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Kent, the typical annual property tax bill reaches $1,314, which is below the national median of $2,690. Property taxes in Kent 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 Kent'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 Kent 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
Kent, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$1,318
Ownwell’s Kent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kent 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 Kent, Iowa
Property taxes in Kent, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kent is 1.41%, higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Kent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kent 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 Kent's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50851 zip code has the highest median property tax rate of 1.41%, while the 50851 zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Kent provides valuable insights into the varying tax landscape across Ringgold County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kent Tax Rate
1.41%
Average Ringgold County Tax Rate
1.44%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kent, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50851 | 1.41% | 1.41% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Kent, Iowa
In Kent, 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 Ringgold 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 Kent, 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 Kent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Kent, the highest and lowest median tax bills are both $1,314, found in the 50851 zip code.
Average Kent Assessed Value
$93,443
Average Ringgold County Assessed Value
$101,674
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kent, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50851 | $93,443 | $93,443 | $93,443 | $93,443 | $93,443 |
Source: Ownwell
Property Tax Bills Across Kent, Iowa
In Kent, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate. In Ringgold County, the median home price is $93,443, and homeowners typically see a tax bill around $1,314. This rate is relatively high compared to the national median property tax rate of 0.99%, reflecting the local government's need to fund essential services like schools, infrastructure, and public safety. Several factors influence the tax bill, including the home's location, size, and any applicable exemptions or deductions. For instance, a homeowner in the 25th percentile, 75th percentile, and even the 90th percentile would all see a tax bill of $1,314, indicating a flat rate applied uniformly across different property values. This uniformity can significantly impact homeowners, as it ensures predictability in annual expenses but may also place a heavier burden on those with lower-valued properties.
Average Kent Tax Bill
$1,314
Average Ringgold County Tax Bill
$1,488
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Kent, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50851 | $1,314 | $1,314 | $1,314 | $1,314 | $1,314 |
Source: Ownwell