Roland, Iowa Property Taxes
The median property tax rate in Roland, IA is 1.47%, slightly lower than the Iowa state median of 1.54% but still higher than the national median of 0.99%. With a median home value of $201,500 in Roland, the typical annual property tax bill reaches $2,906, surpassing the national median of $2,690. Property taxes in Roland are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Roland'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 Roland 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
Roland, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$2,962
Ownwell’s Roland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roland 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 Roland, Iowa
Property taxes in Roland, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roland is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Roland set these rates annually, and they can vary across different neighborhoods. Each year, Roland 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 Roland's effective property tax rate to other areas in Story County and the national median. For comparison, the zip code 50236 has both the highest and lowest median property tax rate of 1.47%. Understanding how these areas compare with Roland provides valuable insights into the varying tax landscape across Story County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roland Tax Rate
1.47%
Average Story County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50236 | 0.95% | 1.39% | 1.47% | 1.55% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Roland, Iowa
In Roland, 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 Story 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 Roland, 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 Roland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 50236, with a median tax bill of $2,906.
Average Roland Assessed Value
$201,500
Average Story County Assessed Value
$219,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50236 | $110,350 | $150,750 | $201,500 | $260,625 | $362,400 |
Source: Ownwell
Property Tax Bills Across Roland, Iowa
In Roland, located in Story County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and represents the market value of the property. Homeowners in Roland face a property tax rate that contributes to their annual tax bill, which can vary significantly depending on the property's assessed value. For instance, the 25th percentile tax bill in Roland is $2,154, while the 75th percentile tax bill reaches $3,676, and the 90th percentile tax bill can go up to $4,838. The median home price in Roland is $201,500, and this plays a crucial role in determining the tax bill. Compared to the national median property tax rate of 0.99%, Roland's tax bills are relatively higher, reflecting the local tax policies and the assessed property values. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners.
Average Roland Tax Bill
$2,906
Average Story County Tax Bill
$2,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Roland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50236 | $1,620 | $2,154 | $2,906 | $3,676 | $4,838 |
Source: Ownwell