Odebolt, Iowa Property Taxes
The median property tax rate in Odebolt, IA is 1.26%, 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 Odebolt at $98,580, the typical annual property tax bill reaches $1,258, which is below the national median of $2,690. Property taxes in Odebolt are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Odebolt'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 Odebolt 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
Odebolt, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,242
Ownwell’s Odebolt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Odebolt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Odebolt 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 Odebolt, Iowa
Property taxes in Odebolt, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odebolt is 1.26%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Odebolt set these rates annually, and they can vary across different neighborhoods. Each year, Odebolt 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 Odebolt's effective property tax rate to other counties in Iowa and the national median. For comparison, the highest median property tax rate in the region is also 1.26%, while the lowest median tax rate is 1.26%. Understanding how these cities compare with Odebolt provides valuable insights into the varying tax landscape across Sac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odebolt Tax Rate
1.26%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odebolt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51458 | 0.99% | 1.11% | 1.26% | 1.42% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Odebolt, Iowa
In Odebolt, 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 Sac 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 Odebolt, 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 Odebolt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price is $98,580, with tax bills ranging from $649 at the 25th percentile to $3,172 at the 90th percentile. The highest and lowest median tax bills are both $1,258 in the 51458 zip code.
Average Odebolt Assessed Value
$98,580
Average Sac County Assessed Value
$117,660
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odebolt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51458 | $21,766 | $53,410 | $98,580 | $169,060 | $283,672 |
Source: Ownwell
Property Tax Bills Across Odebolt, Iowa
In Odebolt, located in Sac County, IA, property tax bills are calculated based on the assessed value of a home. The median home price in Odebolt is $98,580. Property taxes are determined by multiplying the assessed value by the local tax rate. For Odebolt, the median property tax rate is competitive compared to the national median of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Odebolt can expect a range of tax bills. For instance, the tax bill at the 25th percentile is $649, while at the 75th percentile, it’s $2,125. The 90th percentile tax bill reaches $3,172, illustrating the variability based on property value and other factors. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners anticipate their financial obligations and plan accordingly.
Average Odebolt Tax Bill
$1,258
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Odebolt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51458 | $271 | $649 | $1,258 | $2,125 | $3,172 |
Source: Ownwell