Spragueville, Iowa Property Taxes
The median property tax rate in Spragueville, IA is 1.19%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $153,400 in Spragueville, the typical annual property tax bill amounts to $1,942, falling below the national median of $2,690. Property taxes in Spragueville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Spragueville'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 Spragueville or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spragueville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,825
Ownwell’s Spragueville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Spragueville with just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spragueville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in observing trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Spragueville, Iowa
Property taxes in Spragueville, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spragueville is 1.19%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Spragueville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spragueville 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 Spragueville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52074 zip code has the highest median property tax rate of 1.19%, while the 52074 zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Spragueville provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spragueville Tax Rate
1.19%
Average Jackson County Tax Rate
1.24%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spragueville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52074 | 1.01% | 1.08% | 1.19% | 1.32% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Spragueville, Iowa
In Spragueville, 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 Jackson 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 Spragueville, 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 Spragueville 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 $1942, found in zip code 52074.
Average Spragueville Assessed Value
$153,400
Average Jackson County Assessed Value
$157,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spragueville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52074 | $51,380 | $93,500 | $153,400 | $248,000 | $357,720 |
Source: Ownwell
Property Tax Bills Across Spragueville, Iowa
In Spragueville, located in Jackson County, IA, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Spragueville is $153,400. Property taxes are determined by multiplying the assessed value by the local tax rate, which varies within the county. For example, the tax bill for the 25th percentile is $1,204, while the 75th percentile sees a tax bill of $2,786, and the 90th percentile reaches up to $4,133. Various factors influence the final tax bill, including changes in the market value of homes, local budget requirements, and any applicable exemptions or deductions. Homeowners in Spragueville experience a range of tax obligations, with the highest median tax bill recorded at $1,942 in the 52074 zip code. This local variability means that while some homeowners may find their tax bills manageable, others could face more substantial financial commitments. Understanding these factors helps homeowners anticipate their annual property tax liabilities and plan accordingly.
Average Spragueville Tax Bill
$1,942
Average Jackson County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Spragueville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52074 | $597 | $1,204 | $1,942 | $2,786 | $4,133 |
Source: Ownwell