Waukon, Winneshiek County, Iowa Property Taxes
The median property tax rate in Waukon, IA is 1.02%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $174,950 in Waukon, the typical annual property tax bill is $1,784, which is below the national median of $2,690. Property taxes in Waukon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Waukon'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 Waukon 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
Waukon, Winneshiek County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,784
$1,656
Ownwell’s Waukon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waukon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waukon 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 Waukon, Winneshiek County, Iowa
Property taxes in Waukon, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waukon is 1.02%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Waukon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waukon 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 Waukon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52172 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Waukon provides valuable insights into the varying tax landscape across Allamakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waukon Tax Rate
1.02%
Average Winneshiek County Tax Rate
1.33%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waukon, Winneshiek County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52172 | 0.94% | 0.99% | 1.02% | 1.09% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Waukon, Winneshiek County, Iowa
In Waukon, 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 Waukon, 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 example, the median home price in Waukon is $174,950, with tax bills ranging from $1,291 at the 25th percentile to $3,507 at the 90th percentile. The zip code 52172 has the highest and lowest median tax bill of $1,784. Being aware of these valuation processes in Waukon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Waukon, Winneshiek County, Iowa
Source: Ownwell
$113,790
$168,525
$223,260
Average Waukon Assessed Value
$174,950
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 Waukon, Winneshiek County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52172 | $75,760 | $112,965 | $174,950 | $300,112 | $371,295 |
Source: Ownwell
Property Tax Bills Across Waukon, Winneshiek County, Iowa
In Waukon, property tax bills are calculated based on the assessed value of the property, which is determined by the local county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to it. Homeowners in Waukon, located in Winneshiek County, experience varying tax bills. For instance, the median home price is $174,950, which can result in different tax amounts depending on the specific assessment and applicable exemptions. The tax bill for the 25th percentile homes is around $1,291, while those in the 75th percentile pay approximately $3,091. At the 90th percentile, the tax bill can reach up to $3,507. Comparatively, the highest and lowest median tax bills in the area are both recorded at $1,784, which is notably higher than the national median property tax rate of 0.99%. This variability in tax bills significantly impacts homeowners, influencing their overall cost of living and financial planning.
Average Waukon Tax Bill
$1,784
Average Winneshiek County Tax Bill
$2,768
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Waukon, Winneshiek County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52172 | $820 | $1,291 | $1,784 | $3,091 | $3,507 |
Source: Ownwell