Livermore, Iowa Property Taxes
The median property tax rate in Livermore, IA is 1.05%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Livermore at $176,171, the typical annual property tax bill reaches $2,492, which is below the national median of $2,690. Property taxes in Livermore are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Livermore'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 Livermore or another part of Kossuth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Livermore, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,850
Ownwell’s Livermore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Livermore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Livermore 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 Livermore, Iowa
Property taxes in Livermore, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Livermore is 1.05%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Livermore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Livermore 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 Livermore's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50558 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Livermore provides valuable insights into the varying tax landscape across Kossuth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Livermore Tax Rate
1.05%
Average Kossuth County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Livermore, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50558 | 0.96% | 0.99% | 1.05% | 2.30% | 5.30% |
Source: Ownwell
Property Tax Assessment Values Across Livermore, Iowa
In Livermore, 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 Kossuth 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 Livermore, 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 Livermore is $176,171, with the 25th percentile tax bill at $1,454 and the 90th percentile reaching $5,824. 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 Livermore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Livermore Assessed Value
$176,171
Average Kossuth County Assessed Value
$85,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Livermore, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50558 | $4,996 | $76,612 | $176,171 | $462,365 | $573,690 |
Source: Ownwell
Property Tax Bills Across Livermore, Iowa
In Livermore, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, property size, and any improvements or renovations. For example, with a median home price of $176,171 in Livermore, homeowners can expect a range of property tax bills. At the 25th percentile, the tax bill is around $1,454, while at the 75th percentile, it climbs to approximately $4,797. For those at the 90th percentile, the tax bill can reach $5,824. These figures illustrate how property taxes can vary significantly depending on the home's assessed value and specific local rates. Compared to the national median property tax rate of 0.99%, homeowners in Livermore may find their tax bills to be higher or lower, impacting their overall cost of homeownership and financial planning.
Average Livermore Tax Bill
$2,492
Average Kossuth County Tax Bill
$1,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Livermore, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50558 | $820 | $1,454 | $2,492 | $4,797 | $5,824 |
Source: Ownwell