La Porte City, Benton County, Iowa Property Taxes
The median property tax rate in La Porte City, IA is 1.01%, 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 $281,300 in La Porte City, the typical annual property tax bill amounts to $2,989, surpassing the national median of $2,690. Property taxes in La Porte City are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding La Porte 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 La Porte City or another part of Benton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Porte City, Benton County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$2,841
$2,636
Ownwell’s La Porte City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in La Porte City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in La Porte 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 La Porte City, Benton County, Iowa
Property taxes in LA PORTE CITY, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA PORTE CITY is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within LA PORTE CITY set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA PORTE 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 LA PORTE CITY's effective property tax rate to other areas in Iowa and the national median. For comparison, the 50651 zip code in Benton County has the same median property tax rate of 1.01%. Understanding how these cities compare with LA PORTE CITY provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Porte City Tax Rate
1.01%
Average Benton County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Porte City, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50651 | 0.96% | 0.98% | 1.01% | 1.17% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across La Porte City, Benton County, Iowa
In La Porte City, Iowa, understanding the difference between "market value" and "assessed value" is essential 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 Benton 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 La Porte 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in La Porte City is $281,300, with annual tax bills ranging from $2,266 at the 25th percentile to $6,199 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across La Porte City, Benton County, Iowa
Source: Ownwell
$87,000
$236,925
$386,850
Average La Porte City Assessed Value
$281,300
Average Benton County Assessed Value
$183,200
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Porte City, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50651 | $176,260 | $225,700 | $281,300 | $390,700 | $536,140 |
Source: Ownwell
Property Tax Bills Across La Porte City, Benton County, Iowa
In La Porte City, located in Benton County, IA, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value, which is then used to calculate the property tax owed. Several factors influence the assessed value, including the home's location, size, age, and condition. The local tax rate is applied to this assessed value to determine the final tax bill. For homeowners in La Porte City, the tax bills can vary significantly. At the 25th percentile, the tax bill is $2,266, while at the 75th percentile, it rises to $4,208. The top 10% of tax bills can go as high as $6,199. Compared to the national median property tax rate of 0.99%, these figures highlight the range of property tax burdens experienced by residents. The median home price in La Porte City is $281,300, making the property tax a substantial consideration for homeowners. Understanding these factors can help residents anticipate and manage their annual property tax obligations effectively.
Average La Porte City Tax Bill
$2,989
Average Benton County Tax Bill
$2,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across La Porte City, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50651 | $1,747 | $2,266 | $2,989 | $4,208 | $6,199 |
Source: Ownwell