Swan, Iowa Property Taxes
The median property tax rate in SWAN, IA is 1.14%, 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 SWAN at $142,980, the typical annual property tax bill reaches $1,648, which is below the national median of $2,690. Property taxes in SWAN are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding SWAN'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 SWAN 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
Swan, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,630
Ownwell’s SWAN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SWAN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SWAN 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 Swan, Iowa
Property taxes in Swan, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swan is 1.14%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Swan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swan 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 Swan's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50252 zip code has the highest median property tax rate of 1.14%, while the 50252 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Swan provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swan Tax Rate
1.14%
Average Marion County Tax Rate
1.40%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swan, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50252 | 0.98% | 1.06% | 1.14% | 1.21% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Swan, Iowa
In Swan, 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 Marion County Appraisal District 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 Swan, 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. The median home price in Swan is $142,980, with tax bills ranging from $502 at the 25th percentile to $3,761 at the 90th percentile. Being aware of these valuation processes in Swan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Swan Assessed Value
$142,980
Average Marion County Assessed Value
$185,955
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swan, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50252 | $10,044 | $42,570 | $142,980 | $255,250 | $383,826 |
Source: Ownwell
Property Tax Bills Across Swan, Iowa
In Swan, located in Marion County, IA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence this calculation, including property size, location, and any improvements or modifications made. For instance, the median home price in Swan is $142,980. The property tax rate in Marion County can significantly impact homeowners, with tax bills ranging from $502 at the 25th percentile to $3,761 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, and Swan's rates can vary, affecting homeowners differently. Higher property values and local tax rates can lead to substantial annual tax bills, which may influence decisions about property maintenance, investment, and overall financial planning for homeowners in the area.
Average Swan Tax Bill
$1,648
Average Marion County Tax Bill
$2,660
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Swan, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50252 | $131 | $502 | $1,648 | $2,841 | $3,761 |
Source: Ownwell