Hills, Iowa Property Taxes
The median property tax rate in Hills, IA is 1.36%, 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 $177,850 in Hills, the typical annual property tax bill reaches $2,498, slightly below the national median of $2,690. Property taxes in Hills are calculated based on the tax assessed value, generally lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hills 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
Hills, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$2,419
Ownwell’s Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hills 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 Hills, Iowa
Property taxes in Hills, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hills is 1.36%, notably higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hills 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 Hills' effective property tax rate to other counties in Iowa and the national median. For comparison, the 52235 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Hills provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hills Tax Rate
1.36%
Average Johnson County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hills, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52235 | 1.20% | 1.29% | 1.36% | 1.52% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Hills, Iowa
In Hills, 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 Johnson County Appraisal District 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 Hills, 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. For instance, the highest median tax bill in the area is $2,498 in the 52235 zip code. Being aware of these valuation processes in Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hills Assessed Value
$177,850
Average Johnson County Assessed Value
$229,790
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hills, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52235 | $10,500 | $104,500 | $177,850 | $219,150 | $271,620 |
Source: Ownwell
Property Tax Bills Across Hills, Iowa
Property tax bills in HILLS, located in Johnson County, IA, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in HILLS experience a range of property tax bills, with the 25th percentile paying approximately $1,618 and the 75th percentile paying about $3,184. At the higher end, the 90th percentile of homeowners face tax bills up to $3,801. Factors influencing the tax bill include the property's assessed value, which is influenced by market conditions, property size, and improvements. The local tax rate also plays a critical role, and in comparison to the national median property tax rate of 0.99%, HILLS' rates reflect the local economic conditions and funding needs for public services. For homeowners, understanding these factors is crucial as they directly impact annual financial planning and long-term property investments.
Average Hills Tax Bill
$2,498
Average Johnson County Tax Bill
$3,786
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Hills, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52235 | $1,432 | $1,618 | $2,498 | $3,184 | $3,801 |
Source: Ownwell