Arnolds Park, Iowa Property Taxes
The median property tax rate in Arnolds Park, IA is 0.80%, which is notably lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $342,050 in Arnolds Park, the typical annual property tax bill amounts to $2,912, slightly surpassing the national median of $2,690. Property taxes in Arnolds Park are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Arnolds Park'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 Arnolds Park 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
Arnolds Park, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,736
Ownwell’s Arnolds Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arnolds Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arnolds Park 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 Dickinson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Arnolds Park, Iowa
Property taxes in Arnolds Park, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arnolds Park is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Arnolds Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arnolds Park 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 Arnolds Park's effective property tax rate to other areas in Dickinson County and the national median. For comparison, the zip code 51331 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these figures compare with Arnolds Park provides valuable insights into the varying tax landscape across Dickinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arnolds Park Tax Rate
0.80%
Average Dickinson County Tax Rate
0.82%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arnolds Park, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51331 | 0.67% | 0.72% | 0.80% | 0.90% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Arnolds Park, Iowa
In Arnolds Park, 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 Dickinson 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 Arnolds Park, 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 Arnolds Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $2,912 in the 51331 zip code, reflecting the uniformity in tax assessments within the area.
Average Arnolds Park Assessed Value
$342,050
Average Dickinson County Assessed Value
$263,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arnolds Park, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51331 | $17,430 | $185,875 | $342,050 | $524,600 | $825,720 |
Source: Ownwell
Property Tax Bills Across Arnolds Park, Iowa
In Arnolds Park, located in Dickinson 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 and reflects the market value of the property. Homeowners in Arnolds Park can expect property tax bills that vary significantly, depending on the value of their homes. For instance, the tax bill at the 25th percentile is $1,499, while at the 75th percentile, it rises to $4,622. At the higher end, the 90th percentile tax bill reaches $6,973. The median home price in Arnolds Park is $342,050, which provides a context for these tax bills. Compared to the national median property tax rate of 0.99%, Arnolds Park's property taxes can be substantial, impacting homeowners' annual expenses. The highest and lowest median tax bills in the city are both $2,912, indicating a consistent tax rate within the zip code 51331. This consistency helps homeowners predict their financial obligations more accurately.
Average Arnolds Park Tax Bill
$2,912
Average Dickinson County Tax Bill
$2,470
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Arnolds Park, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51331 | $124 | $1,499 | $2,912 | $4,622 | $6,973 |
Source: Ownwell