Indianola, Iowa Property Taxes
The median property tax rate in Indianola, IA is 1.67%, significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $229,800 in Indianola, the typical annual property tax bill amounts to $3,510, surpassing the national median of $2,690. Property taxes in Indianola are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Indianola's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Indianola or another part of Warren County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Indianola, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,838
Ownwell’s Indianola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Indianola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Indianola 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 Indianola, Iowa
Property taxes in Indianola, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Indianola is 1.67%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Indianola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Indianola 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 Indianola's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50125 has the highest median property tax rate of 1.67%, while the same zip code also has the lowest median tax rate of 1.67%. Understanding how these cities compare with Indianola provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Indianola Tax Rate
1.67%
Average Warren County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Indianola, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50125 | 1.10% | 1.20% | 1.67% | 1.78% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Indianola, Iowa
In Indianola, 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 Warren 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 Indianola, 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 Indianola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50125 has the highest and lowest median tax bill, both at $3,510, reflecting a range of property values within the area.
Average Indianola Assessed Value
$229,800
Average Warren County Assessed Value
$233,350
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Indianola, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50125 | $96,220 | $159,700 | $229,800 | $327,700 | $443,140 |
Source: Ownwell
Property Tax Bills Across Indianola, Iowa
In Indianola, located in Warren County, IA, property tax bills are calculated based on the assessed value of a home. The assessor determines this value by evaluating the market conditions, property characteristics, and recent sales of similar properties in the area. The assessed value is then multiplied by the local tax rate to calculate the tax bill. For example, with a median home price of $229,800, homeowners can expect to see varying tax bills. At the 25th percentile, the tax bill is approximately $2,532, while at the 75th percentile, it rises to about $4,810. The 90th percentile tax bill can reach up to $6,268. These figures highlight the range of property tax obligations homeowners might face, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, the tax obligations in Indianola can significantly impact household budgets. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Indianola Tax Bill
$3,510
Average Warren County Tax Bill
$3,534
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Indianola, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50125 | $1,612 | $2,532 | $3,510 | $4,810 | $6,268 |
Source: Ownwell