Fort Madison, Lee County, Iowa Property Taxes

Name: Property Tax Bills Across Fort Madison, Lee County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Fort Madison, IA effective property tax rate: 1.66%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Fort Madison, IA home value: $92,560
Median annual Fort Madison, IA tax bill: $1,512, $888 lower than the national median property tax bill of $2,400.

How are property taxes in Lee County calculated?

Property taxes in Fort Madison, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Fort Madison’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fort Madison, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Fort Madison, Lee County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.66%

Estimate Property Tax Bill

$1,536

$1,426

Ownwell’s Fort Madison Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fort Madison with just two data points. By entering your property's estimated assessed value, our calculator applies Fort Madison’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lee County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Fort Madison, Lee County, Iowa

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Fort Madison’s effective property tax rate to other cities in Iowa and the median property tax rates in Iowa and the U.S. Fort Madison, located in Lee County, has a median property tax rate of 1.66%, which is higher than the national median of 1.02%. This rate places Fort Madison among the higher property tax rates in the state. For property owners, this means paying a larger share of their property's assessed value in taxes compared to the national average. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions.

Property Tax Rates Across Fort Madison, Lee County, Iowa

Source: Ownwell

1.05%

1.53%

2.01%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Fort Madison Tax Rate

1.66%

Median Effective Lee County Tax Rate

1.57%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Fort Madison, Lee County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
52627	1.11%	1.39%	1.66%	1.87%	1.94%

Source: Ownwell

Property Tax Assessment Values Across Fort Madison, Lee County, Iowa

When examining property taxes in Fort Madison, IA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lee County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Lee County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Fort Madison. For example, the median home price in Fort Madison is $92,560, with tax bills ranging significantly across the county. 52627 has the highest median home price at $92,560.

Property Tax Assessment Values Across Fort Madison, Lee County, Iowa

Source: Ownwell

$78,150

$145,410

$212,670

Median Fort Madison Market Value

$92,560

Median Lee County Market Value

$99,640

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Fort Madison, Lee County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
52627	$30,700	$56,725	$92,560	$146,430	$237,940

Source: Ownwell

Property Tax Bills Across Fort Madison, Lee County, Iowa

In Fort Madison, located in Lee County, IA, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price is $92,560, with property tax bills varying across different percentiles. For example, at the 25th percentile, the tax bill is $950, while at the 75th percentile, it rises to $2,290. The 90th percentile sees tax bills reaching up to $3,301. The median tax bill in the area is $1,512, which is below the national median property tax bill of $2,400. Various factors, such as property size, location, and improvements, influence the assessed value, affecting the homeowner's tax burden. Ownwell assists homeowners by offering property tax appeal and exemption services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners achieve fair tax valuations, ensuring they do not overpay. This service is particularly valuable in areas where tax assessments may not accurately reflect market conditions.

Property Tax Bills Across Fort Madison, Lee County, Iowa

Source: Ownwell

$1,206

$1,859

$2,511

Median Fort Madison Tax Bill

$1,512

Median Lee County Tax Bill

$1,604

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Fort Madison, Lee County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
52627	$507	$950	$1,512	$2,290	$3,301

Source: Ownwell