Rake, Winnebago County, Iowa Property Taxes
The median property tax rate in RAKE, IA is 1.07%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $37,100 in RAKE, the typical annual property tax bill is $436, significantly below the national median of $2,690. Property taxes in RAKE are determined based on the tax assessed value, which is usually less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding RAKE's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of RAKE or elsewhere in the area, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rake, Winnebago County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$397
$368
Ownwell’s RAKE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RAKE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RAKE 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 Rake, Winnebago County, Iowa
Property taxes in RAKE, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in RAKE is 1.07%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within RAKE set these rates annually, and they can vary significantly across different neighborhoods. Each year, RAKE 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 RAKE's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50465 zip code has the highest median property tax rate of 1.07%, while the 50465 zip code has the lowest median tax rate of 1.07%. Understanding how these cities compare with RAKE provides valuable insights into the varying tax landscape across Winnebago County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rake Tax Rate
1.07%
Average Winnebago County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rake, Winnebago County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50465 | 0.27% | 0.75% | 1.07% | 1.28% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Rake, Winnebago County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in RAKE, Iowa. The market value represents 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 Winnebago 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 RAKE, 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. The zip code with the highest median tax bill in RAKE is 50465, with a median tax bill of $436. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Rake, Winnebago County, Iowa
Source: Ownwell
$37,100
$139,870
$242,640
Average Rake Assessed Value
$37,100
Average Winnebago County Assessed Value
$124,390
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rake, Winnebago County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50465 | $8,490 | $25,410 | $37,100 | $70,510 | $140,282 |
Source: Ownwell
Property Tax Bills Across Rake, Winnebago County, Iowa
In RAKE, located in Winnebago County, IA, property tax bills are calculated based on the assessed value of a homeowner’s property and the local tax rate. The assessed value is determined by the local assessor and is a percentage of the market value of the property. Homeowners in RAKE can expect property tax bills that vary significantly depending on the value of their homes. For instance, the tax bill at the 25th percentile is approximately $194, while at the 75th percentile, it rises to $840. The highest median tax bill reported in the area is $436, which aligns with the zip code 50465. These property taxes fund essential services such as public schools, infrastructure, and emergency services. Homeowners need to be aware of these taxes as they can significantly impact the affordability of owning a home. Compared to the national median property tax rate of 0.99%, RAKE's property tax rates can be seen as relatively moderate, making it a potentially attractive location for homeowners looking to manage their expenses.
Average Rake Tax Bill
$436
Average Winnebago County Tax Bill
$1,770
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Rake, Winnebago County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50465 | $12 | $194 | $436 | $840 | $1,624 |
Source: Ownwell