Villisca, Iowa Property Taxes
The median property tax rate in Villisca, IA is 1.15%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Villisca at $118,650, the typical annual property tax bill amounts to $1,428, falling below the national median of $2,690. Property taxes in Villisca are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Villisca'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 Villisca 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
Villisca, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,364
Ownwell’s Villisca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Villisca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Villisca 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 Villisca, Iowa
Property taxes in Villisca, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villisca is 1.15%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Villisca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villisca 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 Villisca's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50864 zip code has the highest median property tax rate of 1.15%, while the 50864 zip code has the lowest median tax rate of 1.15%. Understanding how these cities compare with Villisca provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Villisca Tax Rate
1.15%
Average Adams County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Villisca, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | 0.88% | 1.12% | 1.15% | 1.24% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Villisca, Iowa
In Villisca, 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 Adams County Appraisal District 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 Villisca, 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. With a median home price of $118,650, understanding these valuation concepts helps property owners navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in the area is $1,428 in zip code 50864, which also has the lowest median tax bill. Being aware of these valuation processes in Villisca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Villisca Assessed Value
$118,650
Average Adams County Assessed Value
$114,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Villisca, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | $65,450 | $103,325 | $118,650 | $174,775 | $194,450 |
Source: Ownwell
Property Tax Bills Across Villisca, Iowa
In Villisca, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Factors such as the home's location, size, and condition are considered in this assessment. For homeowners in Villisca, the median home price is $118,650. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,352 and the 75th percentile at $1,994. The highest median tax bill in the area is $1,428, which is notably higher than the national median property tax rate of 0.99%. This means that homeowners in Villisca may pay more in property taxes compared to other parts of the country. Understanding how these factors influence the tax bill can help homeowners better anticipate their annual property tax expenses and potentially seek exemptions or appeals if they believe their property has been over-assessed.
Average Villisca Tax Bill
$1,428
Average Adams County Tax Bill
$1,577
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Villisca, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | $763 | $1,352 | $1,428 | $1,994 | $2,205 |
Source: Ownwell