Eddyville, Iowa Property Taxes
The median property tax rate in Eddyville, IA is 1.36%, notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $101,620 in Eddyville, the typical annual property tax bill amounts to $1,326, which is below the national median of $2,690. Property taxes in Eddyville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Eddyville'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 Eddyville 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
Eddyville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$1,382
Ownwell’s Eddyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eddyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eddyville 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 Eddyville, Iowa
Property taxes in Eddyville, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eddyville is 1.36%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Eddyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eddyville 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 Eddyville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52553 zip code has the highest median property tax rate of 1.36%, while the same 52553 zip code also has the lowest median tax rate of 1.36%. Understanding how these areas compare with Eddyville provides valuable insights into the varying tax landscape across Wapello County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eddyville Tax Rate
1.36%
Average Wapello County Tax Rate
1.66%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eddyville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52553 | 0.98% | 1.14% | 1.36% | 1.51% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Eddyville, Iowa
In Eddyville, 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 Wapello 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. In Eddyville, 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 Eddyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Eddyville is $1,326 in the 52553 zip code, while the lowest median tax bill is also $1,326 in the same zip code.
Average Eddyville Assessed Value
$101,620
Average Wapello County Assessed Value
$83,735
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eddyville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52553 | $14,520 | $43,860 | $101,620 | $164,160 | $242,600 |
Source: Ownwell
Property Tax Bills Across Eddyville, Iowa
In Eddyville, located in Wapello County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Eddyville is $101,620, and homeowners can expect varying tax bills based on their property's assessed value. For instance, tax bills range from the 25th percentile at $644 to the 75th percentile at $2,102, with the 90th percentile reaching up to $3,140. The property tax rate in Eddyville can significantly impact homeowners, as it influences the amount they need to budget annually for taxes. Compared to the national median property tax rate of 0.99%, Eddyville's tax bills reflect the local economic conditions and property values. Homeowners in the zip code 52553, which has the highest median tax bill of $1,326, experience a relatively moderate tax burden, ensuring that local services and infrastructure are adequately funded.
Average Eddyville Tax Bill
$1,326
Average Wapello County Tax Bill
$1,372
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Eddyville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52553 | $247 | $644 | $1,326 | $2,102 | $3,140 |
Source: Ownwell