Sioux City, Iowa Property Taxes
The median property tax rate in Sioux City, IA is 1.02%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Sioux City at $338,370, the typical annual property tax bill reaches $3,632, which is above the national median of $2,690. Property taxes in Sioux City 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 Sioux City'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 Sioux City 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
Sioux City, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$3,451
Ownwell’s Sioux City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sioux City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sioux City 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 Sioux City, Iowa
Property taxes in Sioux City, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sioux City is 1.02%, slightly higher than the U.S. national median of 0.99%. Local government entities within Sioux City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sioux City 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 Sioux City's effective property tax rate to other areas in Plymouth County and the national median. For comparison, the 51109 zip code has the highest median property tax rate of 1.15%, while the 51108 zip code has the lowest median tax rate of 1.01%. Understanding how these areas compare with Sioux City provides valuable insights into the varying tax landscape across Plymouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sioux City Tax Rate
1.02%
Average Plymouth County Tax Rate
1.13%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sioux City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51103 | 0.98% | 0.99% | 1.07% | 1.14% | 1.15% |
| 51108 | 0.96% | 0.98% | 1.01% | 1.04% | 1.12% |
| 51109 | 1.10% | 1.13% | 1.15% | 1.19% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Sioux City, Iowa
In Sioux City, 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 Plymouth 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 Sioux City, 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. Sioux City's median home price stands at $338,370. The median tax bill in the 25th percentile is $2,408, while in the 75th percentile, it is $4,931. The highest median tax bill is $4,516 in the 51103 zip code, and the lowest is $3,166 in the 51109 zip code. By understanding 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 Sioux City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sioux City Assessed Value
$338,370
Average Plymouth County Assessed Value
$198,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sioux City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51103 | $269,490 | $329,700 | $430,855 | $559,280 | $668,576 |
| 51108 | $67,146 | $219,585 | $361,455 | $490,825 | $631,272 |
| 51109 | $17,028 | $109,055 | $243,690 | $367,725 | $536,170 |
Source: Ownwell
Property Tax Bills Across Sioux City, Iowa
In Sioux City, located in Plymouth County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value. For homeowners, understanding these factors is crucial as they directly impact the annual tax bill. For instance, the median home price in Sioux City is $338,370. Tax bills can vary significantly, with the 25th percentile at $2,408 and the 75th percentile reaching $4,931. The highest median tax bill in the area is $4,516 in the 51103 zip code, while the lowest is $3,166 in the 51109 zip code. These figures highlight the variability in property tax bills within the city. Compared to the national median property tax rate of 0.99%, homeowners in Sioux City may experience different financial impacts based on their property's assessed value and location within the city.
Average Sioux City Tax Bill
$3,632
Average Plymouth County Tax Bill
$2,246
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Sioux City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51103 | $3,083 | $3,787 | $4,516 | $5,490 | $6,636 |
| 51108 | $1,336 | $2,543 | $3,752 | $5,066 | $6,373 |
| 51109 | $813 | $1,626 | $3,166 | $4,516 | $6,171 |
Source: Ownwell