Alvord, Iowa Property Taxes
The median property tax rate in Alvord, IA is 0.91%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value in Alvord of $165,660, the typical annual property tax bill amounts to $1,470, falling below the national median of $2,690. Property taxes in Alvord are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Alvord'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 Alvord 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
Alvord, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,508
Ownwell’s Alvord Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alvord with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alvord 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 Alvord, Iowa
Property taxes in Alvord, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alvord is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Alvord set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alvord 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 Alvord's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 51230 has both the highest and lowest median property tax rate in the region, standing at 0.91%. Understanding how these areas compare with Alvord provides valuable insights into the varying tax landscape across Lyon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alvord Tax Rate
0.91%
Average Lyon County Tax Rate
1.03%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alvord, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51230 | 0.74% | 0.79% | 0.91% | 1.01% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Alvord, Iowa
In Alvord, 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 Lyon 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 Alvord, 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 Alvord helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 51230 has both the highest and lowest median tax bill, at $1,470, providing a benchmark for property tax expectations in the area.
Average Alvord Assessed Value
$165,660
Average Lyon County Assessed Value
$190,560
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alvord, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51230 | $65,430 | $91,552 | $165,660 | $319,475 | $511,865 |
Source: Ownwell
Property Tax Bills Across Alvord, Iowa
In Alvord, located in Lyon County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Alvord experience a range of property tax bills, with the 25th percentile paying around $898 and the 75th percentile paying up to $2,664 annually. For those at the 90th percentile, the tax bill can reach as high as $4,376. The median home price in Alvord is $165,660, and homeowners here face property tax rates that can significantly impact their annual expenses. Comparatively, the national median property tax rate is 0.99%, which helps put Alvord's rates into perspective. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value, thereby affecting the tax bill. Understanding these elements can help homeowners better anticipate their property tax obligations and plan their finances accordingly.
Average Alvord Tax Bill
$1,470
Average Lyon County Tax Bill
$1,868
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Alvord, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51230 | $597 | $898 | $1,470 | $2,664 | $4,376 |
Source: Ownwell