Clio, Iowa Property Taxes
The median property tax rate in Clio, IA is 1.48%, which is significantly higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With a median home value of $48,085 in Clio, the typical annual property tax bill amounts to $746, which is well below the national median of $2,690. Property taxes in Clio are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Clio'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 Clio or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clio, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$712
Ownwell’s Clio Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clio with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clio 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 Clio, Iowa
Property taxes in Clio, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clio is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Clio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clio 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 Clio's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50052 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Clio provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clio Tax Rate
1.48%
Average Wayne County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clio, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50052 | 1.07% | 1.34% | 1.48% | 1.61% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Clio, Iowa
In Clio, 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 Wayne 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 Clio, 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 Clio is $48,085, with tax bills ranging from $353 at the 25th percentile to $1,408 at the 75th 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. Being aware of these valuation processes in Clio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clio Assessed Value
$48,085
Average Wayne County Assessed Value
$80,110
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clio, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50052 | $18,966 | $24,568 | $48,085 | $93,988 | $140,733 |
Source: Ownwell
Property Tax Bills Across Clio, Iowa
In Clio, Wayne County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value, resulting in the annual property tax bill. Several factors influence the final tax bill, including the home's market value, any applicable exemptions, and the specific tax rate set by the local government. For homeowners in Clio, the tax bills can vary significantly. For instance, the 25th percentile tax bill is $353, while the 75th percentile tax bill reaches $1,408. At the 90th percentile, homeowners might see a tax bill as high as $1,970. The highest median tax bill in the area is $746, which is notably lower than the national median property tax rate of 0.99%. These variations can impact homeowners' financial planning and the overall affordability of owning property in Clio. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations.
Average Clio Tax Bill
$746
Average Wayne County Tax Bill
$1,272
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Clio, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50052 | $203 | $353 | $746 | $1,408 | $1,970 |
Source: Ownwell