Bristow, Iowa Property Taxes
The median property tax rate in Bristow, IA is 1.20%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Bristow, the typical annual property tax bill reaches $1,016, still below the national median of $2,690. Property taxes in Bristow 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 Bristow'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 Bristow 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
Bristow, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$966
Ownwell’s Bristow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bristow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bristow 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 Bristow, Iowa
Property taxes in Bristow, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bristow is 1.20%, higher than the U.S. national median of 0.99%. Local government entities within Bristow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bristow 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 Bristow's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50611 zip code has the highest median property tax rate of 1.20%, while the 50611 zip code also has the lowest median tax rate of 1.20%. Understanding how these areas compare with Bristow provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bristow Tax Rate
1.20%
Average Butler County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bristow, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50611 | 0.95% | 1.04% | 1.20% | 1.40% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Bristow, Iowa
In Bristow, 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 Butler 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 Bristow, 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 highest median tax bill in Bristow is $1,016 in the 50611 zip code, while the lowest median tax bill is also $1,016 in the same zip code. 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 Bristow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bristow Assessed Value
$80,490
Average Butler County Assessed Value
$143,820
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bristow, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50611 | $10,506 | $31,080 | $80,490 | $173,860 | $314,320 |
Source: Ownwell
Property Tax Bills Across Bristow, Iowa
In Bristow, located in Butler County, IA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by county assessors who evaluate the property's market value, considering factors like location, size, and condition. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Bristow face varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is around $404, while the 75th percentile tax bill can reach approximately $2,043. The highest tax bills, falling in the 90th percentile, can be as high as $3,895. These figures illustrate the range of property tax burdens homeowners might encounter. With the national median property tax rate at 0.99%, Bristow's tax rates and assessed values significantly impact homeowners, influencing their annual financial planning and overall housing affordability. Understanding these factors is crucial for homeowners to anticipate their tax liabilities accurately.
Average Bristow Tax Bill
$1,016
Average Butler County Tax Bill
$1,964
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Bristow, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50611 | $109 | $404 | $1,016 | $2,043 | $3,895 |
Source: Ownwell