Lansing, Iowa Property Taxes
The median property tax rate in Lansing, IA is 1.21%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $162,100 in Lansing, the typical annual property tax bill is $2,102, still below the national median of $2,690. Property taxes in Lansing are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Lansing'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 Lansing 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
Lansing, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,961
Ownwell's Lansing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lansing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lansing 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 Lansing, Iowa
Property taxes in Lansing, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lansing is 1.21%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Lansing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lansing 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 Lansing's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52151 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Lansing 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 Lansing Tax Rate
1.21%
Average Allamakee County Tax Rate
1.22%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lansing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52151 | 0.90% | 1.03% | 1.21% | 1.60% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Lansing, Iowa
In Lansing, 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 Allamakee 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 Lansing, 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 Lansing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2102 in the 52151 zip code, while the lowest median tax bill is also $2102 in the same zip code.
Average Lansing Assessed Value
$162,100
Average Allamakee County Assessed Value
$156,300
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lansing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52151 | $15,900 | $87,100 | $162,100 | $256,900 | $364,340 |
Source: Ownwell
Property Tax Bills Across Lansing, Iowa
In Lansing, located in Allamakee County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence the assessed value, including the property's market value, size, location, and any improvements made. For homeowners in Lansing, the median home price is $162,100. Tax bills can vary significantly, with the 25th percentile tax bill at $1,100 and the 75th percentile reaching $3,278. The highest median tax bill in the area is $2,102, which is consistent across the 52151 zip code. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Lansing’s tax rates can impact homeowners differently, depending on their property's assessed value and the local tax rate. Understanding these elements helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Lansing Tax Bill
$2,102
Average Allamakee County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lansing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52151 | $296 | $1,100 | $2,102 | $3,278 | $4,675 |
Source: Ownwell