Marne, Iowa Property Taxes
The median property tax rate in Marne, IA is 0.97%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With the median home value in Marne, the typical annual property tax bill reaches $2,350, which is under the national median of $2,690. Property taxes in Marne are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Marne'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 Marne 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
Marne, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,943
Ownwell’s Marne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marne 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 Marne, Iowa
Property taxes in Marne, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Marne is 1.23%, higher than both the Iowa state median of 1.56% and the U.S. national median of 0.99%. Local government entities within Marne set these rates annually, and they can differ significantly across various neighborhoods. Each year, Marne 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 Marne's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51552 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Marne provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marne Tax Rate
0.97%
Average Shelby County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marne, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51552 | 0.93% | 0.94% | 0.97% | 1.05% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Marne, Iowa
In Marne, 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 Shelby 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 Marne, 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 Marne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,350, found in the 51552 zip code, which also has the lowest median tax bill of $2,350.
Average Marne Assessed Value
$200,330
Average Shelby County Assessed Value
$144,278
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marne, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51552 | $77,244 | $112,666 | $200,330 | $312,998 | $369,495 |
Source: Ownwell
Property Tax Bills Across Marne, Iowa
In Marne, Shelby County, IA, property tax bills are determined by the assessed value of a home, which is calculated based on its market value. Local tax rates are then applied to this assessed value to generate the final tax bill. For example, the median home price in Marne is $200,330, and homeowners typically see tax bills ranging from $1,100 at the 25th percentile to $3,130 at the 75th percentile, with the highest tax bills reaching up to $3,884 at the 90th percentile. Factors influencing these tax bills include property size, location, and local government budgets. Compared to the national median property tax rate of 0.99%, Marne's tax rates can significantly impact homeowners' annual expenses. Higher property taxes can affect a homeowner's ability to maintain or improve their property, while also influencing decisions on whether to buy or sell. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Marne Tax Bill
$2,350
Average Shelby County Tax Bill
$2,060
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Marne, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51552 | $956 | $1,100 | $2,350 | $3,130 | $3,884 |
Source: Ownwell