Laurens, Iowa Property Taxes
The median property tax rate in Laurens, IA is 1.00%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Laurens at $207,750, the typical annual property tax bill comes to $2,022, which is below the national median of $2,690. Property taxes in Laurens are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Laurens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Laurens 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
Laurens, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$2,078
Ownwell’s Laurens Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Laurens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laurens to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, ensuring you are well-informed about your financial commitments. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Laurens, Iowa
Property taxes in Laurens, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurens is 1.04%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Laurens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laurens 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 Laurens's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50554 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Laurens provides valuable insights into the varying tax landscape across Pocahontas, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurens Tax Rate
1.00%
Average Buena Vista County Tax Rate
1.46%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laurens, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50554 | 0.98% | 0.99% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Laurens, Iowa
In Laurens, 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 Buena Vista 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 Laurens, 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. Laurens has a median home price of $207,750, with tax bills ranging from $1,816 at the 25th percentile to $2,153 at the 90th percentile. The highest and lowest median tax bills both stand at $2,022 in the 50554 zip code. 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 Laurens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Laurens Assessed Value
$207,750
Average Buena Vista County Assessed Value
$152,730
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laurens, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50554 | $169,814 | $184,040 | $207,750 | $213,195 | $216,462 |
Source: Ownwell
Property Tax Bills Across Laurens, Iowa
In Laurens, located in Buena Vista County, IA, property tax bills are calculated based on the assessed value of a home. The median home price in Laurens is $207,750, which serves as a benchmark for determining property taxes. The tax bill is influenced by various factors, including the assessed value, local tax rates, and any applicable exemptions. For instance, the 25th percentile tax bill is $1,816, while the 75th percentile tax bill is $2,104, indicating a range depending on property value and specific circumstances. The highest median tax bill in the area is $2,022, found in the 50554 zip code. Compared to the national median property tax rate of 0.99%, Laurens homeowners face a slightly varied tax landscape. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these bills are determined helps residents plan their finances more effectively and take advantage of any available exemptions to potentially lower their tax burden.
Average Laurens Tax Bill
$2,022
Average Buena Vista County Tax Bill
$2,124
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Laurens, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50554 | $1,692 | $1,816 | $2,022 | $2,104 | $2,153 |
Source: Ownwell