Emmetsburg, Iowa Property Taxes
The median property tax rate in Emmetsburg, IA is 1.39%, higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $120,250 in Emmetsburg, the typical annual property tax bill reaches $1,650, which is below the national median of $2,690. Property taxes in Emmetsburg 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 Emmetsburg'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 Emmetsburg 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
Emmetsburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,671
Ownwell’s Emmetsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Emmetsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emmetsburg 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 Emmetsburg, Iowa
Property taxes in Emmetsburg, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emmetsburg is 1.39%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Emmetsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emmetsburg 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 Emmetsburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50536 has both the highest and lowest median property tax rate of 1.39%, emphasizing the uniformity within this region. Understanding how these cities compare with Emmetsburg provides valuable insights into the varying tax landscape across Palo Alto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emmetsburg Tax Rate
1.39%
Average Palo Alto County Tax Rate
1.26%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emmetsburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50536 | 0.91% | 1.21% | 1.39% | 1.54% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Emmetsburg, Iowa
In Emmetsburg, 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 Palo Alto 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 Emmetsburg, 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 Emmetsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price here is $120,250, with tax bills ranging from $982 at the 25th percentile to $4,422 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,650, found in the 50536 zip code.
Average Emmetsburg Assessed Value
$120,250
Average Palo Alto County Assessed Value
$111,265
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emmetsburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50536 | $43,340 | $72,435 | $120,250 | $203,870 | $334,000 |
Source: Ownwell
Property Tax Bills Across Emmetsburg, Iowa
In Emmetsburg, property tax bills are calculated based on the assessed value of a home, which is determined by the Palo Alto County Assessor's Office. This assessment considers factors such as the property's market value, location, and any improvements made to the home. Once the assessed value is established, the local tax rate is applied to determine the final tax bill. For homeowners in Emmetsburg, the median home price is $120,250. Property tax bills vary significantly, with the 25th percentile at $982 and the 75th percentile at $2,750, indicating a wide range of tax burdens. At the 90th percentile, tax bills can reach as high as $4,422. The median tax bill in the area is $1,650, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for Emmetsburg residents.
Average Emmetsburg Tax Bill
$1,650
Average Palo Alto County Tax Bill
$1,364
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Emmetsburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50536 | $597 | $982 | $1,650 | $2,750 | $4,422 |
Source: Ownwell