Lohrville, Iowa Property Taxes
The median property tax rate in Lohrville, IA is 1.08%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Lohrville, the typical annual property tax bill reaches $1,768, falling below the national median of $2,690. Property taxes in Lohrville 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 Lohrville'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 Lohrville 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
Lohrville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,799
Ownwell’s Lohrville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lohrville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lohrville 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 Lohrville, Iowa
Property taxes in Lohrville, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lohrville is 1.08%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities in Lohrville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lohrville 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 Lohrville's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51453 has both the highest and lowest median property tax rate of 1.08%. Understanding how these areas compare with Lohrville provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lohrville Tax Rate
1.08%
Average Greene County Tax Rate
1.35%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lohrville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51453 | 1.00% | 1.03% | 1.08% | 1.13% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Lohrville, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lohrville, Iowa. 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 Greene 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 Lohrville, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Lohrville, the highest and lowest median tax bills are both $1,768 in the 51453 zip code.
Average Lohrville Assessed Value
$166,550
Average Greene County Assessed Value
$113,750
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lohrville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51453 | $138,910 | $149,275 | $166,550 | $183,825 | $194,190 |
Source: Ownwell
Property Tax Bills Across Lohrville, Iowa
In Lohrville, Greene County, IA, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The median home price in the area is $166,550. Property taxes are then applied to this assessed value at a rate set by local taxing authorities. For instance, the median property tax bill in Lohrville is around $1,768, which is slightly above the national median property tax rate of 0.99%. Factors such as the local government's budget needs, school funding, and public services play a significant role in determining the tax rate. Homeowners in Lohrville can expect their tax bills to vary, with the 25th percentile tax bill at $1,664 and the 75th percentile at $1,872. At the 90th percentile, the tax bill can reach up to $1,934. These property taxes directly impact homeowners by contributing to essential community services like schools, infrastructure, and emergency services, thereby influencing both the quality of life and the overall cost of homeownership in the area.
Average Lohrville Tax Bill
$1,768
Average Greene County Tax Bill
$1,434
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lohrville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51453 | $1,602 | $1,664 | $1,768 | $1,872 | $1,934 |
Source: Ownwell