Laurens, Iowa Property Taxes
The median property tax rate in Laurens, IA is 0.97%, slightly below the national median of 0.99% and significantly lower than Iowa's state median of 1.54%. With a median home value of $144,510 in Laurens, the typical annual property tax bill amounts to $1,142, which is substantially less than the national median of $2,690. Property taxes in Laurens 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. By understanding Laurens' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Laurens or another part of the city, gaining insight into the local property tax system is beneficial.
Last Updated June 14, 2024
Laurens, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,402
Ownwell’s Laurens Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Laurens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laurens to provide an estimate of 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 Laurens, Iowa
Property taxes in Laurens, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurens is 1.47%, significantly higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Laurens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laurens 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 Laurens's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50554 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Laurens provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurens Tax Rate
0.97%
Average Palo Alto County Tax Rate
1.26%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laurens, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50554 | 0.69% | 0.81% | 0.97% | 1.25% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Laurens, Iowa
In Laurens, 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 local 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 Laurens, 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. The median home price in Laurens is $144,510, with property tax bills ranging from $934 at the 25th percentile to $2,123 at the 90th percentile. The highest and lowest median tax bills are both reported in the 50554 zip code, amounting to $1,142. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Laurens Assessed Value
$144,510
Average Palo Alto County Assessed Value
$111,265
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laurens, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50554 | $32,360 | $79,385 | $144,510 | $177,155 | $245,108 |
Source: Ownwell
Property Tax Bills Across Laurens, Iowa
Property tax bills in Laurens, IA, are determined by the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by county assessors. In Laurens, the median home price stands at $144,510. Property tax rates in the area vary, but typically result in a median tax bill of around $1,142, which is slightly above the national median property tax rate of 0.99%. Several factors influence the property tax bill, including property size, location, and any applicable exemptions or deductions. For example, tax bills in Laurens can range from $934 at the 25th percentile to $1,748 at the 75th percentile, with the 90th percentile reaching up to $2,123. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting homeowners by contributing to community quality and property values. Understanding these factors can help homeowners anticipate and manage their annual tax obligations effectively.
Average Laurens Tax Bill
$1,142
Average Palo Alto County Tax Bill
$1,364
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Laurens, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50554 | $286 | $934 | $1,142 | $1,748 | $2,123 |
Source: Ownwell