Leon, Iowa Property Taxes
The median property tax rate in Leon, IA is 1.63%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Leon, the typical annual property tax bill reaches $1,018, which is lower than the national median of $2,690. Property taxes in Leon 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 Leon'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 Leon 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
Leon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,003
Ownwell’s Leon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leon 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 Leon, Iowa
Property taxes in Leon, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leon is 1.63%, significantly higher than the U.S. national median of 0.99%. Local government entities within Leon set these rates annually, and they can vary across different neighborhoods. Each year, Leon 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 Leon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50144 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Leon provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leon Tax Rate
1.63%
Average Decatur County Tax Rate
1.59%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50144 | 0.75% | 1.15% | 1.63% | 2.14% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Leon, Iowa
In Leon, 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 Decatur 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 Leon, 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 Leon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Leon, the median home price is $61,525, with tax bills ranging from the 25th percentile at $332 to the 90th percentile at $2,782. The zip code 50144 has the highest and lowest median tax bill, both at $1,018.
Average Leon Assessed Value
$61,525
Average Decatur County Assessed Value
$57,520
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50144 | $3,380 | $17,874 | $61,525 | $111,220 | $189,140 |
Source: Ownwell
Property Tax Bills Across Leon, Iowa
In Leon, located in Decatur County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Local government budgets and school district funding needs also play a crucial role in determining the tax rate. For homeowners in Leon, the median home price is $61,525, which can result in varying tax bills. For example, the tax bill at the 25th percentile is $332, while at the 75th percentile, it rises to $1,818. At the 90th percentile, homeowners might see a tax bill as high as $2,782. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community.
Average Leon Tax Bill
$1,018
Average Decatur County Tax Bill
$928
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Leon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50144 | $68 | $332 | $1,018 | $1,818 | $2,782 |
Source: Ownwell