Yale, Iowa Property Taxes
The median property tax rate in Yale, IA is 1.25%, considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Yale at $213,365, the typical annual property tax bill reaches $2,855, exceeding the national median of $2,690. Property taxes in Yale are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yale'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 Yale or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yale, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$2,667
Ownwell’s Yale Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Yale. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Yale to provide an accurate estimate of your property tax bill. This convenient feature helps you better understand your potential tax liabilities, ensuring you make informed financial decisions. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is the value assigned by Dallas County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Yale, Iowa
Property taxes in Yale, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yale is 1.25%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Yale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yale 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 Yale's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50277 zip code has the highest median property tax rate of 1.25%, while the 50277 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Yale provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yale Tax Rate
1.25%
Average Dallas County Tax Rate
1.62%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50277 | 1.08% | 1.18% | 1.25% | 1.28% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Yale, Iowa
In Yale, 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 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. 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 Yale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50277 in Dallas County has both the highest and lowest median tax bill at $2,855.
Average Yale Assessed Value
$213,365
Average Dallas County Assessed Value
$264,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50277 | $157,576 | $185,018 | $213,365 | $272,418 | $350,725 |
Source: Ownwell
Property Tax Bills Across Yale, Iowa
In Yale, Dallas County, IA, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Yale, the median home price is $213,365. Property taxes can vary significantly, with the 25th percentile tax bill at $2,379 and the 75th percentile reaching $3,386. For those in the 90th percentile, the tax bill can be as high as $4,019. These variations depend on factors such as property size, location, and any applicable exemptions. Comparatively, the national median property tax rate is 0.99%, which highlights how local tax rates and property values can impact the overall tax burden. Homeowners in Yale must consider these factors when budgeting for annual expenses, as property taxes can represent a significant portion of their financial obligations.
Average Yale Tax Bill
$2,855
Average Dallas County Tax Bill
$3,638
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Yale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50277 | $1,838 | $2,379 | $2,855 | $3,386 | $4,019 |
Source: Ownwell