Hospers, Iowa Property Taxes
The median property tax rate in Hospers, IA is 0.90%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Hospers at $221,140, the typical annual property tax bill amounts to $2,156, falling below the national median of $2,690. Property taxes in Hospers are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Hospers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hospers or another part of O'Brien County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hospers, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$1,990
Ownwell’s Hospers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hospers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hospers 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 Hospers, Iowa
Property taxes in Hospers, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hospers is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Hospers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hospers 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 Hospers' effective property tax rate to other counties in Iowa and the national median. For comparison, the 51238 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Hospers provides valuable insights into the varying tax landscape across O'Brien County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hospers Tax Rate
0.90%
Average O'brien County Tax Rate
1.20%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hospers, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51238 | 0.77% | 0.81% | 0.90% | 0.99% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Hospers, Iowa
In Hospers, 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 O'Brien 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 Hospers, 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 Hospers helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $2,156 in the 51238 zip code, providing a benchmark for local homeowners.
Average Hospers Assessed Value
$221,140
Average O'brien County Assessed Value
$120,840
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hospers, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51238 | $83,845 | $160,752 | $221,140 | $313,215 | $416,452 |
Source: Ownwell
Property Tax Bills Across Hospers, Iowa
In Hospers, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate set by O'Brien County. For homeowners in Hospers, the median home price stands at $221,140. The property tax rate in this area is notably higher than the national median property tax rate of 0.99%, leading to significant annual tax bills. The tax bill for homeowners varies widely: at the 25th percentile, it's around $1,454, while at the 75th percentile, it reaches $2,836. For those at the 90th percentile, the tax bill can soar to $3,747. The highest median tax bill in the region is $2,156, reflecting the variability in property values and assessments. These property taxes fund essential public services like schools, infrastructure, and emergency services, impacting homeowners by contributing to the overall cost of homeownership in Hospers.
Average Hospers Tax Bill
$2,156
Average O'brien County Tax Bill
$1,404
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Hospers, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51238 | $741 | $1,454 | $2,156 | $2,836 | $3,747 |
Source: Ownwell