Ottumwa, Iowa seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Ottumwa, Iowa (Wapello County). The calculator applies the local rates for you.
- Median home value
- $92,400
- Transfer tax on $90,000
- $143
- Seller costs on $90,000
- About $5,120
- Median property tax bill
- $1,668 a year
- County
- Wapello County
- Population
- 25,648
Ottumwa transfer tax
On a $90,000 sale in Ottumwa, transfer taxes come to $143: Real estate transfer tax. By custom the seller pays it.
| Tax | Rate | Paid by | On $90,000 |
|---|---|---|---|
| Real estate transfer tax | $1.60 per $1,000 ($0.80 per $500) on the amount over $500 | Seller | $143.20 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $90,000 local median value | $143.20 | $0 | $143.20 |
| $250,000 | $399.20 | $0 | $399.20 |
| $500,000 | $799.20 | $0 | $799.20 |
| $1,000,000 | $1,599.20 | $0 | $1,599.20 |
Example Ottumwa seller net sheet
A $90,000 sale, close to Ottumwa's median home value of $92,400, with a 5% commission and a $55,000 mortgage payoff. Seller costs come to about $5,120, or 5.7% of the price.
| Line | Seller |
|---|---|
| Sale price | $90,000 |
| First mortgage payoff | −$55,000 |
| Real estate commission (5%) | −$4,500 |
| Real estate transfer tax | −$143.20 |
| Owner's title insurance policy | −$175 |
| Settlement / closing fee | −$250 |
| Release / satisfaction recording | −$12 |
| Wire / courier / payoff processing | −$40 |
| Estimated net before property tax prorations | $29,879.80 |
Who pays what in Ottumwa
Ottumwa closings follow Wapello County customs. In Wapello County, the seller customarily pays the owner's title policy. The settlement fee is customarily split between buyer and seller. Closings are usually handled by a title company or attorney.
Property taxes in Ottumwa
The median property tax bill for homeowners in Ottumwa is $1,668 a year, about 1.81% of the median home value of $92,400 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Fiscal year Jul-Jun paid about 18 months in arrears (halves due Sep 30 and Mar 31 of the following fiscal year); seller credits buyer for all unpaid periods through closing.
Rates verified 2026-09-29. Home value and tax bill: Census Bureau American Community Survey, 2019–2023. A net sheet is an estimate; final figures come from the title company.
Ottumwa seller questions
How much is the transfer tax in Ottumwa, Iowa?
On a $90,000 sale in Ottumwa, transfer taxes come to $143: Real estate transfer tax. By custom the seller pays it.
How much are seller closing costs in Ottumwa?
On a $90,000 sale, close to the median home value in Ottumwa, with a 5% commission, estimated seller costs are about $5,120 (5.7% of the price). Without commission they are about $620. The loan payoff and property tax proration change the final number.
What county is Ottumwa in, and does it matter at closing?
Ottumwa is in Wapello County, Iowa. County and state rules set the transfer taxes and recording fees, and local custom decides who pays for title and closing. In Wapello County, the seller customarily pays the owner's title policy. The settlement fee is customarily split between buyer and seller.
How much are property taxes in Ottumwa?
The median property tax bill for homeowners in Ottumwa is $1,668 a year, about 1.81% of the median home value of $92,400 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Fiscal year Jul-Jun paid about 18 months in arrears (halves due Sep 30 and Mar 31 of the following fiscal year); seller credits buyer for all unpaid periods through closing.
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