State Center, Iowa Property Taxes
The median property tax rate in State Center, IA is 1.03%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $265,100 in State Center, the typical annual property tax bill reaches $2,470, which is below the national median of $2,690. Property taxes in State Center are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding State Center'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 State Center 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
State Center, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$2,731
Ownwell’s STATE CENTER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STATE CENTER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STATE CENTER 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 State Center, Iowa
Property taxes in State Center, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in State Center is 1.03%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within State Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, State Center 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 State Center's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50247 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with State Center 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 State Center Tax Rate
1.03%
Average Story County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across State Center, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50247 | 0.90% | 0.91% | 1.03% | 1.11% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across State Center, Iowa
In State Center, 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 State Center, 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 State Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in State Center are both $2,470, found in zip code 50247.
Average State Center Assessed Value
$265,100
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 State Center, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50247 | $151,720 | $191,850 | $265,100 | $307,150 | $388,640 |
Source: Ownwell
Property Tax Bills Across State Center, Iowa
Property tax bills in State Center, located in Story County, IA, are determined based on the assessed value of a property. The local assessor evaluates properties annually to estimate their market value. This assessed value is then multiplied by the local tax rate to calculate the tax bill. Several factors influence this process, including property size, location, and any improvements made. For homeowners in State Center, the median home price stands at $265,100. Tax bills can vary widely; at the 25th percentile, homeowners might pay around $1,898, while those at the 75th percentile could see bills as high as $3,136. The 90th percentile tax bill reaches up to $3,684. For comparison, the national median property tax rate is 0.99%, highlighting that local rates and assessed values can significantly impact what homeowners owe. Understanding these factors helps residents anticipate their property tax obligations and plan accordingly.
Average State Center Tax Bill
$2,470
Average Story County Tax Bill
$2,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across State Center, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50247 | $1,666 | $1,898 | $2,470 | $3,136 | $3,684 |
Source: Ownwell