Calmar, Iowa Property Taxes
The median property tax rate in Calmar, IA is 1.49%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Calmar, the typical annual property tax bill reaches $2,440, slightly below the national median of $2,690. Property taxes in Calmar 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 Calmar'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 Calmar or another part of Winneshiek County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Calmar, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$2,621
Ownwell’s Calmar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calmar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calmar 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 Calmar, Iowa
Property taxes in Calmar, Iowa, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calmar is 1.49%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Calmar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calmar 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 Calmar's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52132 zip code has the highest median property tax rate of 1.49%, while the 52132 zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Calmar provides valuable insights into the varying tax landscape across Winneshiek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calmar Tax Rate
1.49%
Average Winneshiek County Tax Rate
1.33%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calmar, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52132 | 1.09% | 1.16% | 1.49% | 1.59% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Calmar, Iowa
In Calmar, 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 Winneshiek County Assessor 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 Calmar, 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. For instance, the median home price in Calmar is $175,910, with tax bills ranging from $1,754 at the 25th percentile to $4,354 at the 90th percentile. The highest and lowest median tax bills are both $2,440 in zip code 52132. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Calmar Assessed Value
$175,910
Average Winneshiek County Assessed Value
$200,930
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calmar, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52132 | $81,738 | $124,750 | $175,910 | $248,360 | $329,778 |
Source: Ownwell
Property Tax Bills Across Calmar, Iowa
In Calmar, located in Winneshiek County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Once the assessed value is established, the local tax rate is applied to this value to calculate the annual tax bill. For example, with a median home price of $175,910, the property tax rate in Calmar can lead to tax bills ranging from $1,754 at the 25th percentile to $4,354 at the 90th percentile. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of similar properties in the area. Homeowners in Calmar need to be aware that these tax bills can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Calmar’s rates can vary, making it essential for homeowners to understand how their specific tax bill is determined and to plan accordingly.
Average Calmar Tax Bill
$2,440
Average Winneshiek County Tax Bill
$2,768
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Calmar, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52132 | $1,168 | $1,754 | $2,440 | $3,274 | $4,354 |
Source: Ownwell