Zearing, Iowa Property Taxes
The median property tax rate in Zearing, IA is 1.33%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $161,000 in Zearing, the typical annual property tax bill amounts to $2,110, falling below the national median of $2,690. Property taxes in Zearing are calculated based on the tax assessed value, which often is less than the market value due to exemptions like primary residence and agricultural exemptions. By understanding Zearing's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're in the heart of Zearing or another part of Story County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Zearing, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$2,141
Ownwell’s Zearing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Zearing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Zearing 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 Zearing, Iowa
Property taxes in Zearing, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Zearing is 1.33%, which is higher than the U.S. national median of 0.99%. Local government entities within Zearing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Zearing 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 Zearing's effective property tax rate to other areas in Iowa and the national median. For comparison, ZIP code 50278 has the highest median property tax rate of 1.33%, while the same ZIP code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Zearing 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 Zearing Tax Rate
1.33%
Average Story County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Zearing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50278 | 0.92% | 1.02% | 1.33% | 1.45% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Zearing, Iowa
In Zearing, 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 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. In Zearing, 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 Zearing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $161,000, with tax bills ranging from $1,458 at the 25th percentile to $3,536 at the 90th percentile. The highest and lowest median tax bills, both $2,110, are found in the 50278 zip code.
Average Zearing Assessed Value
$161,000
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 Zearing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50278 | $61,460 | $110,625 | $161,000 | $235,850 | $321,650 |
Source: Ownwell
Property Tax Bills Across Zearing, Iowa
In Zearing, IA, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location, size, and market conditions play a significant role in determining its assessed value. For instance, the median home price in Zearing is $161,000. Property tax rates in Zearing can vary, with tax bills ranging from $1,458 at the 25th percentile to $3,536 at the 90th percentile. The highest median tax bill in the area is $2,110. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, Zearing’s rates reflect the local economic conditions and funding needs. Homeowners in Zearing should be aware of these factors as they significantly affect their annual financial obligations.
Average Zearing Tax Bill
$2,110
Average Story County Tax Bill
$2,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Zearing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50278 | $782 | $1,458 | $2,110 | $2,794 | $3,536 |
Source: Ownwell