Iowa, Louisiana Property Taxes
The median property tax rate in Iowa, LA is 1.04%, which is higher than both the national median of 0.99% and Louisiana's state median of 0.91%. With a median home value of $111,000 in Iowa, the typical annual property tax bill amounts to $1,122, surpassing the national median of $2,690. Property taxes in Iowa are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Iowa'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 Iowa or another part of Jefferson Davis Parish, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Iowa, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,154
Ownwell’s IOWA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in IOWA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in IOWA 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 Iowa, Louisiana
Property taxes in Iowa, Louisiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Iowa is 1.04%, higher than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Iowa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Iowa 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 Iowa's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 70647 zip code has the highest median property tax rate of 1.04%, while the 70647 zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Iowa provides valuable insights into the varying tax landscape across Jefferson Davis Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Iowa Tax Rate
1.04%
Average Jefferson Davis County Tax Rate
1.00%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iowa, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70647 | 0.94% | 0.94% | 1.04% | 1.04% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Iowa, Louisiana
In IOWA, Louisiana, 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 Jefferson Davis Parish 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 IOWA, 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. The median home price in IOWA is $111,000, with tax bills ranging from $590 at the 25th percentile to $2,621 at the 90th percentile. 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 IOWA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Iowa Assessed Value
$111,000
Average Jefferson Davis County Assessed Value
$71,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Iowa, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70647 | $27,248 | $59,000 | $111,000 | $207,925 | $255,009 |
Source: Ownwell
Property Tax Bills Across Iowa, Louisiana
In the city of Iowa within Jefferson Davis Parish, LA, property tax bills are calculated based on the assessed value of a property, which is derived from the market value. The assessment rate in Louisiana is set at 10% of the market value for residential properties. Therefore, a home with a median market price of $111,000 would have an assessed value of $11,100. The property tax rate is then applied to this assessed value to determine the tax bill. Various factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. For instance, Louisiana offers a homestead exemption that can significantly reduce the taxable value for qualifying homeowners. The tax bill can vary widely; in Jefferson Davis Parish, the 25th percentile tax bill is around $590, while the 75th percentile tax bill reaches $2,090, and the 90th percentile can be as high as $2,621. This variability in property tax bills can significantly impact homeowners, affecting their annual budget and long-term financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Iowa Tax Bill
$1,122
Average Jefferson Davis County Tax Bill
$712
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Iowa, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70647 | $273 | $590 | $1,122 | $2,090 | $2,621 |
Source: Ownwell