Tabor, Iowa Property Taxes
The median property tax rate in Tabor, IA is 1.41%, which is 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 Tabor at $165,530, the typical annual property tax bill reaches $2,331, which is below the national median of $2,690. Property taxes in Tabor are calculated based on the assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Tabor'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 Tabor or another part of Fremont County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tabor, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$2,334
Ownwell’s Tabor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tabor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tabor 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 Tabor, Iowa
Property taxes in Tabor, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tabor is 1.41%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Tabor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tabor 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 Tabor's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51653 zip code has the highest median property tax rate of 1.41%, while the 51653 zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Tabor provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tabor Tax Rate
1.41%
Average Fremont County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tabor, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51653 | 0.92% | 1.13% | 1.41% | 1.64% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Tabor, Iowa
In Tabor, 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 Fremont 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 Tabor, 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 Tabor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tabor, both at $2,331, are found in the 51653 zip code.
Average Tabor Assessed Value
$165,530
Average Fremont County Assessed Value
$118,270
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tabor, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51653 | $70,102 | $110,460 | $165,530 | $232,420 | $332,104 |
Source: Ownwell
Property Tax Bills Across Tabor, Iowa
In Tabor, located in Fremont County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the market value of similar properties in the area, any improvements made to the property, and overall market conditions. For homeowners in Tabor, the property tax rate is a crucial factor. With a median home price of $165,530, the property tax bills can vary significantly. For example, the 25th percentile tax bill is around $1,504, while the 75th percentile reaches $3,280, and the 90th percentile can be as high as $4,515. These taxes are essential for funding local services such as schools, infrastructure, and emergency services. Comparing this to the national median property tax rate of 0.99%, homeowners in Tabor may find their property tax rates to be competitive, but the actual tax bill can vary widely depending on the assessed value and specific circumstances of their property.
Average Tabor Tax Bill
$2,331
Average Fremont County Tax Bill
$1,562
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Tabor, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51653 | $918 | $1,504 | $2,331 | $3,280 | $4,515 |
Source: Ownwell