Sheldahl, Iowa Property Taxes
The median property tax rate in Sheldahl, IA is 1.58%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Sheldahl at $166,800, the typical annual property tax bill reaches $2,512, which is below the national median of $2,690. Property taxes in Sheldahl are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Sheldahl'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 Sheldahl 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
Sheldahl, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$2,635
Ownwell’s Sheldahl Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sheldahl with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheldahl 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 Sheldahl, Iowa
Property taxes in Sheldahl, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sheldahl is 1.58%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Sheldahl set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheldahl 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 Sheldahl's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50243 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Sheldahl provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sheldahl Tax Rate
1.58%
Average Polk County Tax Rate
1.69%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sheldahl, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50243 | 1.35% | 1.52% | 1.58% | 1.67% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Sheldahl, Iowa
In Sheldahl, 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 Polk 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 Sheldahl, 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 Sheldahl helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50243 at $2,512, which is significantly higher than the national median property tax rate of 0.99%.
Average Sheldahl Assessed Value
$166,800
Average Polk County Assessed Value
$231,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sheldahl, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50243 | $85,560 | $132,850 | $166,800 | $245,225 | $345,860 |
Source: Ownwell
Property Tax Bills Across Sheldahl, Iowa
In Sheldahl, located in Polk County, IA, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Sheldahl is $166,800, and this value plays a crucial role in determining the tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. Homeowners in Sheldahl experience a range of tax bills. For instance, the 25th percentile tax bill is $2,008, while the 75th percentile reaches $3,770. At the 90th percentile, the tax bill can go up to $4,314. These variations illustrate how different factors can significantly impact the final amount owed. Comparatively, the national median property tax rate is 0.99%, highlighting that Sheldahl's property tax rates are relatively aligned with national trends. This can affect homeowners by impacting their monthly mortgage payments and overall housing affordability. Understanding these factors helps homeowners anticipate their annual tax obligations better.
Average Sheldahl Tax Bill
$2,512
Average Polk County Tax Bill
$3,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Sheldahl, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50243 | $1,300 | $2,008 | $2,512 | $3,770 | $4,314 |
Source: Ownwell