Danbury, Iowa Property Taxes
The median property tax rate in Danbury, Iowa is 1.16%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Danbury at $99,605, the typical annual property tax bill reaches $1,184, still below the national median of $2,690. Property taxes in Danbury 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 Danbury'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 Danbury 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
Danbury, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,155
Ownwell's Danbury Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Danbury. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Danbury to provide an accurate estimate of your property tax bill. This user-friendly tool offers a clear understanding of your potential tax liabilities, aiding in better financial planning. For those interested in more granular details, you can explore trends at the neighborhood level by scrolling down. Your property's assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Danbury, Iowa
Property taxes in Danbury, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danbury is 1.16%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Danbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danbury 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 Danbury's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51019 zip code has the highest median property tax rate of 1.16%, while the 51019 zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Danbury provides valuable insights into the varying tax landscape across Woodbury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danbury Tax Rate
1.16%
Average Woodbury County Tax Rate
1.52%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | 0.90% | 0.98% | 1.16% | 1.32% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Danbury, Iowa
In Danbury, 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 local 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 Danbury, 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 Danbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,184, found in the 51019 zip code.
Average Danbury Assessed Value
$99,605
Average Woodbury County Assessed Value
$157,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | $29,639 | $53,998 | $99,605 | $182,445 | $280,597 |
Source: Ownwell
Property Tax Bills Across Danbury, Iowa
In Danbury, located in Woodbury County, IA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. For homeowners in Danbury, the median home price is $99,605. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property size, location, and improvements made to the home. In Danbury, the tax bill for the 25th percentile is $636, while the 75th percentile tax bill is $2004, and the 90th percentile tax bill reaches $2991. This range shows the variability in tax burdens depending on property characteristics and assessed values. Property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated can help homeowners budget accordingly and potentially seek appeals or exemptions if they believe their property has been over-assessed.
Average Danbury Tax Bill
$1,184
Average Woodbury County Tax Bill
$2,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Danbury, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51019 | $362 | $636 | $1,184 | $2,004 | $2,991 |
Source: Ownwell