Stanley, Iowa Property Taxes
The median property tax rate in Stanley, IA is 1.39%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $324,560 in Stanley, the typical annual property tax bill reaches $4,326, significantly exceeding the national median of $2,690. Property taxes in Stanley 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 Stanley'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 Stanley 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
Stanley, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$4,511
Ownwell’s Stanley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stanley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanley 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 Stanley, Iowa
Property taxes in Stanley, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanley is 1.39%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Stanley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanley 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 Stanley's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50671 has the highest median property tax rate of 1.39%, while the lowest median tax rate is also 1.39%. Understanding how these areas compare with Stanley provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stanley Tax Rate
1.39%
Average Fayette County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50671 | 0.96% | 1.05% | 1.39% | 1.50% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Stanley, Iowa
Understanding the distinction between "market value" and "assessed value" is essential for navigating property taxes in Stanley, Iowa. The market value is the price a willing buyer would pay a willing seller in an open, competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Fayette 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 Stanley, 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. For instance, the zip code 50671 in Stanley has the highest median tax bill at $4,326. By being aware of these valuation processes, residents can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Stanley Assessed Value
$324,560
Average Fayette County Assessed Value
$118,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50671 | $147,162 | $215,320 | $324,560 | $530,295 | $646,236 |
Source: Ownwell
Property Tax Bills Across Stanley, Iowa
In Stanley, IA, located in Fayette County, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Stanley is $324,560. Tax bills in Stanley can vary significantly, with the 25th percentile tax bill at $2,061 and the 75th percentile reaching $7,763. The 90th percentile tax bill can go as high as $9,086. These amounts are influenced by factors such as property improvements, location, and market conditions. Homeowners in Stanley face a substantial range in their property tax bills, which can impact their overall financial planning and housing affordability. Compared to the national median property tax rate of 0.99%, Stanley's tax bills reflect the local economic environment and funding needs for public services. This variance underscores the importance for homeowners to understand their property assessments and potential tax liabilities.
Average Stanley Tax Bill
$4,326
Average Fayette County Tax Bill
$1,568
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50671 | $1,613 | $2,061 | $4,326 | $7,763 | $9,086 |
Source: Ownwell