Stout, Iowa Property Taxes
The median property tax rate in Stout, IA is 1.30%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Stout at $105,640, the typical annual property tax bill reaches $1,424, which is below the national median of $2,690. Property taxes in Stout are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Stout'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 Stout 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
Stout, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,373
Ownwell’s STOUT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STOUT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STOUT 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 Stout, Iowa
Property taxes in Stout, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stout is 1.30%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Stout set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stout 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 Stout's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50673 zip code has both the highest and lowest median property tax rate of 1.30%. Understanding how these cities compare with Stout provides valuable insights into the varying tax landscape across Grundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stout Tax Rate
1.30%
Average Grundy County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stout, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50673 | 1.17% | 1.22% | 1.30% | 1.35% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Stout, Iowa
In STOUT, 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 Grundy 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 STOUT, 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 STOUT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1424 in the 50673 zip code.
Average Stout Assessed Value
$105,640
Average Grundy County Assessed Value
$168,355
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stout, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50673 | $34,078 | $80,610 | $105,640 | $146,710 | $223,384 |
Source: Ownwell
Property Tax Bills Across Stout, Iowa
In Stout, Grundy County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value, reflecting the estimated price a property would sell for under normal conditions. Once the assessed value is established, local tax rates, known as millage rates, are applied to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For example, homeowners in Stout might see different tax bills based on their property's assessed value and the specific millage rate applied by Grundy County. Homeowners in Stout can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $1,115, while the 75th percentile reaches up to $1,901, and the 90th percentile peaks at $2,738. These variations can impact homeowners' financial planning, making it crucial to understand how property taxes are determined and what to expect annually.
Average Stout Tax Bill
$1,424
Average Grundy County Tax Bill
$2,137
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Stout, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50673 | $792 | $1,115 | $1,424 | $1,901 | $2,738 |
Source: Ownwell