Lucas County Property Taxes
The median property tax rate in Lucas County is 1.47%, which is significantly higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With the median home value in Lucas County at $94,795, the typical annual property tax bill reaches $1,460, which is lower than the national median of $2,690. Property taxes in Lucas County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Lucas County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Chariton or another part of Lucas County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lucas County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,393
Ownwell’s Lucas County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lucas County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lucas County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Lucas County, Iowa
Property taxes in Lucas County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lucas County is 1.47%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Lucas County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lucas County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Chariton has one of the higher property tax rates in Iowa at 1.58%, while the city of Corydon boasts one of the lowest at 0.91%. Analyzing how Lucas County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lucas County Tax Rate
1.47%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lucas County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chariton | 0.83% | 1.18% | 1.58% | 2.01% | 2.39% |
| Columbia | 0.81% | 0.94% | 1.15% | 1.16% | 1.16% |
| Corydon | 0.91% | 0.91% | 0.91% | 0.91% | 0.91% |
| Derby | 0.50% | 1.03% | 1.31% | 1.68% | 2.11% |
| Humeston | 1.02% | 1.09% | 1.46% | 1.54% | 1.72% |
| Lacona | 0.91% | 1.10% | 1.46% | 1.62% | 1.81% |
| Lucas | 0.72% | 1.07% | 1.35% | 1.69% | 2.17% |
| Melrose | 0.52% | 0.71% | 1.30% | 1.56% | 1.86% |
| Russell | 0.58% | 0.98% | 1.28% | 1.62% | 1.95% |
| Williamson | 0.39% | 0.74% | 0.92% | 1.24% | 1.79% |
| Woodburn | 1.07% | 1.15% | 1.28% | 1.48% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Lucas County, Iowa
In Lucas County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Lucas County Appraisal District. The assessed value, however, 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. Assessment notices in Lucas County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, homeowners in Lacona face the highest median tax bill at $2,308, while those in Columbia see the lowest at $604. Being aware of these valuation processes in Lucas County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Lucas County Assessed Value
$94,795
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lucas County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chariton | $17,024 | $56,499 | $101,678 | $162,942 | $229,467 |
| Columbia | $58,285 | $67,402 | $82,596 | $159,942 | $206,349 |
| Corydon | $200,588 | $200,588 | $200,588 | $200,588 | $200,588 |
| Derby | $3,597 | $8,704 | $63,413 | $128,108 | $219,791 |
| Humeston | $119,282 | $136,526 | $166,974 | $177,348 | $245,172 |
| Lacona | $62,730 | $101,876 | $155,645 | $201,528 | $259,222 |
| Lucas | $3,140 | $10,424 | $70,170 | $143,093 | $239,794 |
| Melrose | $65,695 | $94,468 | $157,150 | $181,658 | $220,704 |
| Russell | $9,270 | $45,269 | $95,199 | $151,724 | $215,462 |
| Williamson | $2,289 | $3,901 | $10,046 | $34,320 | $57,371 |
| Woodburn | $86,782 | $107,682 | $136,176 | $217,034 | $234,495 |
Source: Ownwell
Property Tax Bills Across Lucas County, Iowa
In Lucas County, IA, property tax bills are calculated based on the assessed value of a home and the tax rate set by local authorities. The median home price in the county is $94,795, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property location, home improvements, and local levies contribute to the final tax amount. For instance, the tax bill at the 25th percentile is $516, while at the 75th percentile, it rises to $2,552, and at the 90th percentile, it reaches $3,718. Homeowners in Lucas County experience varying tax burdens depending on their property's assessed value and location. In Lacona, the highest median tax bill is $2,308, significantly higher than Columbia's lowest median tax bill of $604. These variations can influence homeowners' decisions on where to buy or invest in property within the county. Compared to the national median property tax rate of 0.99%, Lucas County's rates reflect the region's specific economic and municipal needs.
Average Lucas County Tax Bill
$1,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lucas County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chariton | $216 | $712 | $1,666 | $2,747 | $3,892 |
| Columbia | $601 | $602 | $604 | $1,686 | $2,335 |
| Corydon | $1,818 | $1,818 | $1,818 | $1,818 | $1,818 |
| Derby | $28 | $88 | $824 | $1,738 | $3,062 |
| Humeston | $1,264 | $1,526 | $2,255 | $2,932 | $3,743 |
| Lacona | $726 | $1,510 | $2,308 | $3,010 | $3,695 |
| Lucas | $26 | $112 | $1,106 | $2,180 | $3,555 |
| Melrose | $429 | $910 | $1,677 | $2,660 | $3,262 |
| Russell | $118 | $398 | $1,112 | $2,103 | $3,110 |
| Williamson | $18 | $28 | $70 | $333 | $717 |
| Woodburn | $830 | $1,165 | $2,190 | $2,943 | $3,242 |
Source: Ownwell