Springville, Iowa Property Taxes
The median property tax rate in Springville, IA is 1.18%, 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 $207,125 in Springville, the typical annual property tax bill amounts to $2,471, slightly below the national median of $2,690. Property taxes in Springville are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Springville's property tax system, exploring available exemptions, and identifying opportunities for tax reductions can lead to significant annual savings. Whether you're in the heart of Springville 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
Springville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$2,444
Ownwell’s Springville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springville 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 Springville, Iowa
Property taxes in Springville, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springville is 1.18%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Springville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springville 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 Springville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52336 zip code has the highest median property tax rate of 1.18%, while the same zip code has the lowest median tax rate of 1.18%. Understanding how these cities compare with Springville provides valuable insights into the varying tax landscape across Jones County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springville Tax Rate
1.18%
Average Jones County Tax Rate
1.38%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52336 | 1.07% | 1.11% | 1.18% | 1.25% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Springville, Iowa
In Springville, 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 Jones 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 Springville, 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 Springville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52336 has the highest median tax bill at $2471, which is also the lowest median tax bill in the area.
Average Springville Assessed Value
$207,125
Average Jones County Assessed Value
$156,350
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Springville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52336 | $193,665 | $198,712 | $207,125 | $215,538 | $220,585 |
Source: Ownwell
Property Tax Bills Across Springville, Iowa
In Springville, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the total tax bill. For homeowners in Springville, the median home price stands at $207,125. Property tax bills in the area vary, with the 25th percentile at $2,230 and the 75th percentile reaching $2,712. At the 90th percentile, homeowners can expect a tax bill of approximately $2,856. These figures are influenced by various factors, including property size, location, and any applicable exemptions. Homeowners in Springville experience a property tax rate that is relatively comparable to the national median property tax rate of 0.99%. This tax burden impacts homeowners' annual budgets and can influence decisions on homeownership and property investments. The highest and lowest median tax bills in the area are both reported at $2,471, indicating a degree of consistency in property tax assessments within the community.
Average Springville Tax Bill
$2,471
Average Jones County Tax Bill
$2,222
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Springville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52336 | $2,086 | $2,230 | $2,471 | $2,712 | $2,856 |
Source: Ownwell