Saint Marys, Iowa Property Taxes
The median property tax rate in Saint Marys, 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 Saint Marys, the typical annual property tax bill reaches $2,412, which is below the national median of $2,690. Property taxes in Saint Marys are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Marys' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Marys 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
Saint Marys, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$2,392
Ownwell’s Saint Marys Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Marys with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Marys 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 Saint Marys, Iowa
Property taxes in Saint Marys, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Marys is 1.58%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Saint Marys set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Marys 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 Saint Marys' effective property tax rate to other counties in Iowa and the national median. For comparison, the 50241 zip code has both the highest and lowest median property tax rate of 1.58%. Understanding how these cities compare with Saint Marys 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 Saint Marys Tax Rate
1.58%
Average Warren County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Marys, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50241 | 1.00% | 1.07% | 1.58% | 1.69% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Saint Marys, Iowa
In Saint Marys, 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 Saint Marys, 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 Saint Marys helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, properties in the 50241 zip code have the highest and lowest median tax bills at $2,412.
Average Saint Marys Assessed Value
$151,400
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 Saint Marys, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50241 | $20,970 | $77,775 | $151,400 | $252,700 | $412,440 |
Source: Ownwell
Property Tax Bills Across Saint Marys, Iowa
In Saint Marys, located in Warren County, IA, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, homeowners with a median home price of $151,400 can expect varying tax bills depending on their specific circumstances. Factors such as property improvements, neighborhood developments, and changes in local government budgets can influence the assessed value and, consequently, the tax bill. Homeowners in the 25th percentile might see tax bills around $1,396, while those in the 75th percentile could face bills up to $3,673. At the 90th percentile, tax bills can reach $4,762. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Saint Marys to understand how their property taxes are calculated and how they impact their financial planning.
Average Saint Marys Tax Bill
$2,412
Average Warren County Tax Bill
$3,534
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Marys, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50241 | $655 | $1,396 | $2,412 | $3,673 | $4,762 |
Source: Ownwell