Shell Rock, Iowa Property Taxes
The median property tax rate in Shell Rock, IA is 1.50%, which is higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With the median home value in Shell Rock at $177,705, the typical annual property tax bill comes to $2,557, just below the national median of $2,690. Property taxes in Shell Rock are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Shell Rock'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 Shell Rock or another part of Butler County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shell Rock, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$2,666
Ownwell’s Shell Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shell Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shell Rock 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 Shell Rock, Iowa
Property taxes in Shell Rock, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shell Rock is 1.50%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Shell Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shell Rock 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 Shell Rock's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50670 zip code has both the highest and lowest median property tax rate of 1.50%, highlighting the uniformity within the region. Understanding how these cities compare with Shell Rock 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 Shell Rock Tax Rate
1.50%
Average Butler County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shell Rock, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50670 | 1.08% | 1.16% | 1.50% | 1.59% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Shell Rock, Iowa
In Shell Rock, 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 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 Shell Rock, 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 Shell Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shell Rock is $177,705, with the highest median tax bill of $2,557 found in zip code 50670.
Average Shell Rock Assessed Value
$177,705
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 Shell Rock, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50670 | $63,044 | $119,770 | $177,705 | $262,788 | $360,075 |
Source: Ownwell
Property Tax Bills Across Shell Rock, Iowa
In Shell Rock, located in Butler County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Shell Rock face property tax rates that are influenced by local government budgets, school funding needs, and public services. For a median home price of $177,705, property tax bills can vary significantly. For instance, the 25th percentile tax bill is around $1,778, while the 75th percentile tax bill is approximately $3,546, and the 90th percentile tax bill reaches up to $4,807. These figures indicate that homeowners in Shell Rock experience a range of property tax burdens depending on the value of their homes and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, Shell Rock's rates can be higher, impacting homeowners' annual expenses. Understanding these factors helps residents anticipate their property tax obligations and budget accordingly.
Average Shell Rock Tax Bill
$2,557
Average Butler County Tax Bill
$1,964
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Shell Rock, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50670 | $1,099 | $1,778 | $2,557 | $3,546 | $4,807 |
Source: Ownwell