Saint Lucas, Iowa Property Taxes
The median property tax rate in Saint Lucas, IA is 1.38%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $92,260 in Saint Lucas, the typical annual property tax bill is around $1,242, which is below the national median of $2,690. Property taxes in Saint Lucas are based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Saint Lucas'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 Saint Lucas 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
Saint Lucas, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,273
Ownwell’s Saint Lucas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Lucas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Lucas 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 Saint Lucas, Iowa
Property taxes in Saint Lucas, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Lucas is 1.35%, which is notably higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Saint Lucas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Lucas 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 Saint Lucas's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52166 has both the highest and lowest median property tax rate in the area at 1.35%. Understanding how these cities compare with Saint Lucas provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Lucas Tax Rate
1.38%
Average Fayette County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Lucas, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52166 | 1.23% | 1.30% | 1.38% | 1.46% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Saint Lucas, Iowa
In Saint Lucas, 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 Fayette 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 Saint Lucas, 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. For instance, the median home price in Saint Lucas is $92,260, with tax bills ranging from $912 at the 25th percentile to $2,824 at the 90th percentile. The highest and lowest median tax bills, both $1,242, are found in the 52166 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Saint Lucas Assessed Value
$92,260
Average Fayette County Assessed Value
$118,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Lucas, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52166 | $41,332 | $65,160 | $92,260 | $130,850 | $220,552 |
Source: Ownwell
Property Tax Bills Across Saint Lucas, Iowa
In Saint Lucas, located in Fayette County, IA, property tax bills are calculated by applying the local tax rate to the assessed value of a home. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the property tax bill, including the property's location, size, and condition. For homeowners in Saint Lucas, the median home price is $92,260. Property tax bills can vary significantly, with the 25th percentile at $912 and the 75th percentile at $1,848. At the higher end, the 90th percentile reaches $2,824. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. High property taxes can affect homeowners by increasing their annual expenses, while lower taxes can offer some financial relief. In Saint Lucas, property taxes are a crucial consideration for both current residents and potential homebuyers.
Average Saint Lucas Tax Bill
$1,242
Average Fayette County Tax Bill
$1,568
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Lucas, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52166 | $503 | $912 | $1,242 | $1,848 | $2,824 |
Source: Ownwell