Sioux City, Iowa Property Taxes
The median property tax rate in Sioux City, 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 Sioux City, the typical annual property tax bill reaches $2,404, which is still below the national median of $2,690. Property taxes in Sioux City 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 Sioux City'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 Sioux City or another part of Woodbury County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sioux City, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$2,441
Ownwell’s Sioux City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sioux City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sioux City 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 Sioux City, Iowa
Property taxes in Sioux City, Iowa, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Sioux City is 1.58%, which is notably higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Sioux City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sioux City 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 Sioux City's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51104 zip code has the highest median property tax rate of 1.63%, while the 51101 zip code has the lowest median tax rate of 1.48%. Understanding how these areas compare with Sioux City provides valuable insights into the varying tax landscape across Woodbury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sioux City Tax Rate
1.58%
Average Woodbury County Tax Rate
1.52%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sioux City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51101 | 1.03% | 1.12% | 1.48% | 1.73% | 1.96% |
| 51103 | 1.20% | 1.36% | 1.53% | 1.66% | 1.79% |
| 51104 | 1.32% | 1.49% | 1.63% | 1.73% | 1.81% |
| 51105 | 1.13% | 1.30% | 1.49% | 1.68% | 1.82% |
| 51106 | 1.11% | 1.42% | 1.59% | 1.71% | 1.81% |
| 51108 | 1.03% | 1.31% | 1.51% | 1.63% | 1.74% |
| 51109 | 1.26% | 1.39% | 1.59% | 1.71% | 1.80% |
| 51111 | 1.47% | 1.56% | 1.60% | 1.62% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Sioux City, Iowa
In Sioux City, 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 Woodbury 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 Sioux City, 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 Sioux City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sioux City is $6,393 in the 51111 zip code, while the lowest median tax bill is $1,490 in the 51105 zip code.
Average Sioux City Assessed Value
$154,500
Average Woodbury County Assessed Value
$157,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sioux City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51101 | $65,900 | $70,200 | $144,900 | $181,800 | $200,500 |
| 51103 | $59,880 | $83,700 | $118,400 | $164,400 | $228,340 |
| 51104 | $83,000 | $123,300 | $174,700 | $239,700 | $312,000 |
| 51105 | $59,300 | $78,300 | $101,600 | $128,400 | $160,310 |
| 51106 | $94,330 | $133,725 | $175,150 | $245,275 | $370,033 |
| 51108 | $95,473 | $123,375 | $160,650 | $249,000 | $379,440 |
| 51109 | $81,000 | $107,775 | $142,350 | $179,125 | $225,100 |
| 51111 | $167,280 | $239,550 | $415,200 | $893,725 | $1,511,170 |
Source: Ownwell
Property Tax Bills Across Sioux City, Iowa
In Sioux City, located in Woodbury 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's office and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, the median home price in Sioux City is $154,500. Homeowners in the 25th percentile can expect a tax bill around $1,624, whereas those in the 75th percentile may see bills as high as $3,428. The highest median tax bill recorded is $6,393 in zip code 51111, while the lowest is $1,490 in zip code 51105. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential to stay informed about property assessments and tax rates.
Average Sioux City Tax Bill
$2,404
Average Woodbury County Tax Bill
$2,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Sioux City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51101 | $1,424 | $1,758 | $2,542 | $3,148 | $3,464 |
| 51103 | $887 | $1,242 | $1,795 | $2,574 | $3,583 |
| 51104 | $1,362 | $1,920 | $2,794 | $3,876 | $5,027 |
| 51105 | $792 | $1,124 | $1,490 | $1,962 | $2,547 |
| 51106 | $1,442 | $1,992 | $2,756 | $3,788 | $5,166 |
| 51108 | $1,355 | $1,766 | $2,364 | $3,419 | $4,947 |
| 51109 | $1,179 | $1,600 | $2,152 | $2,814 | $3,672 |
| 51111 | $2,532 | $3,459 | $6,393 | $14,599 | $25,016 |
Source: Ownwell