Woden, Winnebago County, Iowa Property Taxes
The median property tax rate in Woden, IA is 1.10%, slightly higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With the median home value in Woden at $157,374, the typical annual property tax bill reaches $2,235, which is below the national median of $2,690. Property taxes in Woden 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 Woden'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 Woden 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
Woden, Winnebago County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,731
$1,606
Ownwell’s Woden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woden 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 Woden, Winnebago County, Iowa
Property taxes in Woden, Iowa, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Woden is 1.10%, which is higher than the U.S. national median of 0.99%. Local government entities within Woden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woden 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 Woden's effective property tax rate to other areas in Winnebago County and the national median. For comparison, the zip code 50484 has both the highest and lowest median property tax rate of 1.10%. Understanding how these areas compare with Woden 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 Woden Tax Rate
1.10%
Average Winnebago County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woden, Winnebago County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50484 | 0.71% | 0.95% | 1.10% | 1.51% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Woden, Winnebago County, Iowa
In Woden, 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 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. 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 Woden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50484 has both the highest and lowest median tax bill at $2,235.
Property Tax Assessment Values Across Woden, Winnebago County, Iowa
Source: Ownwell
$37,100
$139,870
$242,640
Average Woden Assessed Value
$157,374
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 Woden, Winnebago County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50484 | $74,982 | $111,454 | $157,374 | $268,968 | $313,101 |
Source: Ownwell
Property Tax Bills Across Woden, Winnebago County, Iowa
Property tax bills in Woden, located in Winnebago County, IA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Various factors influence this assessment, including the property's size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Woden, homeowners experience a range of property tax bills. The 25th percentile tax bill is $1,119, while the 75th percentile reaches $3,156, and the 90th percentile climbs to $4,218. These figures reflect the variability in property values and local tax rates. The median home price in Woden is $157,374, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, Woden's property tax rates can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership. Understanding how these taxes are calculated can help homeowners anticipate their expenses and manage their budgets effectively.
Average Woden Tax Bill
$2,235
Average Winnebago County Tax Bill
$1,770
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Woden, Winnebago County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50484 | $502 | $1,119 | $2,235 | $3,156 | $4,218 |
Source: Ownwell