Arthur, Iowa Property Taxes
The median property tax rate in Arthur, IA is 1.06%, slightly higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With the median home value in Arthur at $294,370, the typical annual property tax bill reaches $2,978, surpassing the national median of $2,690. Property taxes in Arthur 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 Arthur'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 Arthur 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
Arthur, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$3,120
Ownwell’s Arthur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arthur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arthur 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 Arthur, Iowa
Property taxes in Arthur, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arthur is 1.06%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Arthur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arthur 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 Arthur's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51431 zip code has both the highest and lowest median property tax rate of 1.06%. Understanding how these cities compare with Arthur provides valuable insights into the varying tax landscape across Sac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arthur Tax Rate
1.06%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arthur, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51431 | 0.84% | 1.01% | 1.06% | 1.17% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Arthur, Iowa
In Arthur, 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 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 Arthur, 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 Arthur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Arthur is $294,370, with the highest median tax bill recorded at $2,978 in the zip code 51431.
Average Arthur Assessed Value
$294,370
Average Sac County Assessed Value
$117,660
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arthur, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51431 | $120,456 | $159,215 | $294,370 | $390,635 | $464,854 |
Source: Ownwell
Property Tax Bills Across Arthur, Iowa
In Arthur, located in Sac County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Arthur typically experience tax bills ranging from $2,062 at the 25th percentile to $3,949 at the 90th percentile, with a median home price of $294,370. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. Compared to the national median property tax rate of 0.99%, the tax burden in Arthur can be significant for some homeowners. For instance, the highest median tax bill in the area is $2,978, which is notably higher than the national median. This financial obligation can impact homeowners' budgets and their decisions regarding property investments and improvements.
Average Arthur Tax Bill
$2,978
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Arthur, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51431 | $1,508 | $2,062 | $2,978 | $3,369 | $3,949 |
Source: Ownwell