Ames, Iowa Property Taxes
The median property tax rate in Ames, IA is 1.31%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $222,100 in Ames, the typical annual property tax bill amounts to $2,838, surpassing the national median of $2,690. Property taxes in Ames are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Ames' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ames or another part of Story County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ames, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,910
Ownwell’s Ames Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ames with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ames 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 Ames, Iowa
Property taxes in Ames, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ames is 1.31%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Ames set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ames 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 Ames's effective property tax rate to other areas in Iowa and the national median. For comparison, the 50014 zip code has the highest median property tax rate of 1.37%, while the 50010 zip code has the lowest median tax rate of 1.29%. Understanding how these areas compare with Ames provides valuable insights into the varying tax landscape across Story County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ames Tax Rate
1.31%
Average Story County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ames, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50010 | 1.08% | 1.18% | 1.29% | 1.42% | 1.65% |
| 50011 | N/A | N/A | N/A | N/A | N/A |
| 50014 | 1.11% | 1.22% | 1.37% | 1.56% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Ames, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ames, Iowa. 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 Story 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. Assessment notices in Ames 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 Ames is $222,100, with tax bills ranging from $2,006 at the 25th percentile to $5,832 at the 90th percentile. The highest median tax bill is $2,886 in zip code 50010, while the lowest median tax bill is $2,780 in zip code 50014. Understanding these valuation processes helps property owners navigate their tax responsibilities, identify opportunities for protesting assessments, and apply for exemptions to manage their tax burden effectively.
Average Ames Assessed Value
$222,100
Average Story County Assessed Value
$219,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ames, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50010 | $100,440 | $155,400 | $232,600 | $333,400 | $449,920 |
| 50011 | N/A | N/A | N/A | N/A | N/A |
| 50014 | $84,700 | $119,000 | $207,250 | $347,200 | $470,500 |
Source: Ownwell
Property Tax Bills Across Ames, Iowa
Property tax bills in Ames, located in Story County, IA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For Ames, the median home price stands at $222,100. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within specific zip codes. For instance, the highest median tax bill in Ames is $2,886 in the 50010 zip code, while the lowest median tax bill is $2,780 in the 50014 zip code. The tax bill can vary significantly, with the 25th percentile at $2,006 and the 90th percentile reaching $5,832. These property taxes are a crucial source of revenue for local services such as schools, infrastructure, and public safety. For homeowners, understanding these factors is essential for financial planning and assessing the affordability of their property.
Average Ames Tax Bill
$2,838
Average Story County Tax Bill
$2,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Ames, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50010 | $1,498 | $2,142 | $2,886 | $4,124 | $5,752 |
| 50011 | N/A | N/A | N/A | N/A | N/A |
| 50014 | $1,288 | $1,792 | $2,780 | $4,314 | $5,904 |
Source: Ownwell