Laurens, Iowa Property Taxes
The median property tax rate in Laurens, IA is 1.24%, 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 Laurens at $75,830, the typical annual property tax bill amounts to $1,009, significantly below the national median of $2,690. Property taxes in Laurens are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Laurens's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Laurens or another part of the city, grasping 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
1.24%
Estimate Property Tax Bill
$940
-$9,854
Ownwell’s Laurens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner 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 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 Laurens, Iowa
Property taxes in Laurens, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurens is 1.26%, significantly 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 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Laurens provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurens Tax Rate
1.24%
Average Clay County Tax Rate
1.37%
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 | 1.10% | 1.15% | 1.24% | 1.33% | 1.39% |
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 local county appraisal district 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. 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. Homeowners in Laurens face varied tax bills, with the 25th percentile at $714 and the 75th percentile at $1304. The highest and lowest median tax bills are both $1009, found in the 50554 zip code.
Average Laurens Assessed Value
$75,830
Average Clay County Assessed Value
$145,050
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 | $46,830 | $57,705 | $75,830 | $93,955 | $104,830 |
Source: Ownwell
Property Tax Bills Across Laurens, Iowa
In Laurens, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $75,830, homeowners in Laurens can expect a tax bill that typically falls between $714 at the 25th percentile and $1,304 at the 75th percentile, with the 90th percentile reaching up to $1,480. These figures illustrate how property taxes can vary significantly even within the same city. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners, understanding these variables is crucial as property taxes represent a significant annual expense. Compared to the national median property tax rate of 0.99%, Laurens' property taxes reflect local economic conditions and public service funding needs, directly impacting homeowners' financial planning and community investment.
Average Laurens Tax Bill
$1,009
Average Clay County Tax Bill
$1,910
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 | $538 | $714 | $1,009 | $1,304 | $1,480 |
Source: Ownwell