Bedford, Taylor County, Iowa Property Taxes
The median property tax rate in Bedford, IA is 1.25%, which is 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 Bedford at $84,490, the typical annual property tax bill reaches $1,018, which is below the national median of $2,690. Property taxes in Bedford are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bedford'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 Bedford or elsewhere in Taylor County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bedford, Taylor County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,056
$980
Ownwell’s Bedford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bedford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bedford 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 Bedford, Taylor County, Iowa
Property taxes in Bedford, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bedford is 1.25%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Bedford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bedford 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 Bedford's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50833 zip code has the highest median property tax rate of 1.25%, while the 50833 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Bedford provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bedford Tax Rate
1.25%
Average Taylor County Tax Rate
1.27%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bedford, Taylor County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50833 | 0.93% | 1.05% | 1.25% | 1.42% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Bedford, Taylor County, Iowa
In Bedford, 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 Taylor County 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. Assessment notices in Bedford 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 Bedford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bedford is $84,490, with the highest and lowest median tax bills both being $1,018 in the 50833 zip code.
Property Tax Assessment Values Across Bedford, Taylor County, Iowa
Source: Ownwell
$25,575
$99,043
$172,510
Average Bedford Assessed Value
$84,490
Average Taylor County Assessed Value
$80,810
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bedford, Taylor County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50833 | $9,800 | $36,815 | $84,490 | $153,910 | $265,060 |
Source: Ownwell
Property Tax Bills Across Bedford, Taylor County, Iowa
In Bedford, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $84,490 in Bedford, homeowners can expect varying tax bills depending on their specific property assessments and applicable exemptions. The tax bill can range significantly, with the 25th percentile at approximately $426 and the 75th percentile reaching up to $1,852. For those at the 90th percentile, tax bills can be as high as $2,988. These amounts are influenced by factors such as property size, location, and any qualifying exemptions or deductions. Compared to the national median property tax rate of 0.99%, Bedford's property tax rate and resulting bills can be relatively moderate, offering a more affordable living situation for homeowners. However, the exact impact on each homeowner will depend on their property's assessed value and any applicable local tax policies.
Average Bedford Tax Bill
$1,018
Average Taylor County Tax Bill
$1,036
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Bedford, Taylor County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50833 | $123 | $426 | $1,018 | $1,852 | $2,988 |
Source: Ownwell