Little Sioux, Iowa Property Taxes
The median property tax rate in Little Sioux, IA is 1.15%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Little Sioux at $42,515, the typical annual property tax bill amounts to $620, well below the national median of $2,690. Property taxes in Little Sioux are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Little Sioux'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 Little Sioux or another part of Harrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Little Sioux, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$489
Ownwell’s Little Sioux Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little Sioux with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Sioux 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 Little Sioux, Iowa
Property taxes in Little Sioux, Iowa, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Sioux is 1.15%, higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Little Sioux set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Sioux 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 Little Sioux's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51545 has the highest median property tax rate of 1.15%, while the same zip code, 51545, also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Little Sioux provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Little Sioux Tax Rate
1.15%
Average Harrison County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Sioux, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51545 | 0.82% | 0.94% | 1.15% | 1.37% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Little Sioux, Iowa
In Little Sioux, 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 Harrison 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 Little Sioux, 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 Little Sioux helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $42,515, with tax bills ranging from $192 at the 25th percentile to $3,237 at the 90th percentile. The zip code 51545 has both the highest and lowest median tax bill of $620.
Average Little Sioux Assessed Value
$42,515
Average Harrison County Assessed Value
$150,125
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Little Sioux, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51545 | $3,275 | $12,902 | $42,515 | $96,038 | $199,917 |
Source: Ownwell
Property Tax Bills Across Little Sioux, Iowa
In Little Sioux, Harrison County, IA, property tax bills are calculated based on the assessed value of the property. The local assessor determines this value, which is then multiplied by the local tax rate to determine the tax bill. Several factors influence the assessed value, including the property's market value, location, and improvements. For example, the median home price in Little Sioux is $42,515, which provides a baseline for tax calculations. Homeowners in Little Sioux experience varying tax bills. At the 25th percentile, tax bills are around $192, while those at the 75th percentile can expect to pay approximately $1,292. The highest tax bills, at the 90th percentile, reach up to $3,237. The median tax bill in the area is $620, which is lower than the national median property tax rate of 0.99%. This variation in tax bills affects homeowners differently, depending on their property's assessed value and the local tax rate, impacting their annual financial planning.
Average Little Sioux Tax Bill
$620
Average Harrison County Tax Bill
$1,959
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Sioux, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51545 | $45 | $192 | $620 | $1,292 | $3,237 |
Source: Ownwell