Yorktown, Iowa Property Taxes
The median property tax rate in Yorktown, IA is 1.71%, significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Yorktown at $20,640, the typical annual property tax bill reaches $344, which is notably lower than the national median of $2,690. Property taxes in Yorktown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yorktown'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 Yorktown 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
Yorktown, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$353
Ownwell’s Yorktown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yorktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorktown 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 Yorktown, Iowa
Property taxes in Yorktown, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yorktown is 1.71%, significantly higher than the U.S. national median of 0.99%. Local government entities within Yorktown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorktown 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 Yorktown's effective property tax rate to other areas and the national median. For comparison, the zip code 51656 has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these areas compare with Yorktown provides valuable insights into the varying tax landscape across Page County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yorktown Tax Rate
1.71%
Average Page County Tax Rate
1.56%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yorktown, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51656 | 1.40% | 1.59% | 1.71% | 1.82% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Yorktown, Iowa
In Yorktown, 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 Page 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 Yorktown, 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. The median home price in Yorktown stands at $20,640, with tax bills ranging from $108 at the 25th percentile to $1,890 at the 90th percentile. The zip code 51656 has both the highest and lowest median tax bill at $344. 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 Yorktown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Yorktown Assessed Value
$20,640
Average Page County Assessed Value
$100,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yorktown, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51656 | $2,697 | $6,230 | $20,640 | $66,165 | $148,724 |
Source: Ownwell
Property Tax Bills Across Yorktown, Iowa
In Yorktown, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the property tax rate set by local taxing authorities. Various factors, such as the property's location, size, and age, as well as any improvements made, are considered during the assessment process. For homeowners in Yorktown, the median home price stands at $20,640. Property tax bills can vary significantly, with the 25th percentile tax bill at $108 and the 75th percentile reaching $1,087. At the higher end, the 90th percentile tax bill can be as much as $1,890. Comparatively, the highest and lowest median tax bills in the county are both $344 in the 51656 zip code. Understanding how these factors influence property tax bills helps homeowners anticipate their annual expenses. By knowing the assessed value and applicable tax rate, homeowners can better manage their finances and plan for future costs.
Average Yorktown Tax Bill
$344
Average Page County Tax Bill
$1,497
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Yorktown, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51656 | $50 | $108 | $344 | $1,087 | $1,890 |
Source: Ownwell