Kimballton, Iowa Property Taxes
The median property tax rate in Kimballton, IA is 1.20%, 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 Kimballton at $92,450, the typical annual property tax bill amounts to $1,076, falling below the national median of $2,690. Property taxes in Kimballton are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Kimballton'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 Kimballton or another part of Audubon County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kimballton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,109
Ownwell’s Kimballton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kimballton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kimballton 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 Kimballton, Iowa
Property taxes in Kimballton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kimballton is 1.20%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Kimballton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kimballton 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 Kimballton's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51543 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Kimballton provides valuable insights into the varying tax landscape across Audubon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kimballton Tax Rate
1.20%
Average Audubon County Tax Rate
1.32%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kimballton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51543 | 0.85% | 1.03% | 1.20% | 1.39% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Kimballton, Iowa
In Kimballton, 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 Audubon 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 Kimballton, 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 Kimballton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,076, found in the 51543 zip code, reflecting a consistent tax environment.
Average Kimballton Assessed Value
$92,450
Average Audubon County Assessed Value
$103,200
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kimballton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51543 | $40,540 | $64,520 | $92,450 | $132,500 | $180,340 |
Source: Ownwell
Property Tax Bills Across Kimballton, Iowa
In Kimballton, located in Audubon County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $92,450, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is approximately $641, while at the 75th percentile, it rises to around $1,573. For those at the 90th percentile, the bill can be as high as $2,450. These figures illustrate the range of property taxes in Kimballton, which can significantly impact homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, the tax rates in Kimballton reflect the local economic conditions and funding needs. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Kimballton Tax Bill
$1,076
Average Audubon County Tax Bill
$1,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Kimballton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51543 | $413 | $641 | $1,076 | $1,573 | $2,450 |
Source: Ownwell