Exira, Iowa Property Taxes
The median property tax rate in Exira, IA is 1.35%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Exira at $106,250, the typical annual property tax bill amounts to $1,265, falling below the national median of $2,690. Property taxes in Exira are calculated based on the tax assessed value, which often is less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Exira’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 Exira or another part of Guthrie County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Exira, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,434
Ownwell’s Exira Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Exira with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Exira 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 Exira, Iowa
Property taxes in Exira, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Exira is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Exira set these rates annually, and they can vary across different neighborhoods. Each year, Exira 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 Exira's effective property tax rate to other areas in Iowa and the national median. For comparison, the 50076 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these figures compare with Exira provides valuable insights into the varying tax landscape across Guthrie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Exira Tax Rate
1.35%
Average Guthrie County Tax Rate
1.18%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Exira, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50076 | 1.05% | 1.16% | 1.35% | 1.53% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Exira, Iowa
In Exira, 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 Guthrie 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 Exira, 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 Exira helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 50076, both standing at $1,265. By staying informed, property owners can ensure they are not overpaying on their property taxes.
Average Exira Assessed Value
$106,250
Average Guthrie County Assessed Value
$152,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Exira, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50076 | $70,770 | $84,075 | $106,250 | $128,425 | $141,730 |
Source: Ownwell
Property Tax Bills Across Exira, Iowa
In Exira, located in Guthrie County, IA, property tax bills are calculated based on the assessed value of a home, which is generally a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $106,250, homeowners can expect varying tax bills depending on specific assessments and exemptions. Factors such as property improvements, market trends, and local government budgets play significant roles in determining the assessed value. In Exira, the property tax bills range widely, with the 25th percentile at $1,166 and the 90th percentile reaching up to $1,424. Compared to the national median property tax rate of 0.99%, these figures illustrate how local assessments and tax rates can significantly impact homeowners. Understanding this process helps homeowners anticipate their financial obligations and plan accordingly. Knowing the range of possible tax bills can also be crucial for prospective buyers evaluating the overall cost of homeownership in Exira.
Average Exira Tax Bill
$1,265
Average Guthrie County Tax Bill
$1,994
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Exira, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50076 | $1,106 | $1,166 | $1,265 | $1,364 | $1,424 |
Source: Ownwell