Van Horne, Benton County, Iowa Property Taxes
The median property tax rate in Van Horne, IA is 1.40%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Van Horne, the typical annual property tax bill reaches $2,390, slightly below the national median of $2,690. Property taxes in Van Horne are calculated based on the assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Van Horne'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 Van Horne or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Van Horne, Benton County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,680
$2,487
Ownwell’s VAN HORNE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in VAN HORNE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in VAN HORNE 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 Van Horne, Benton County, Iowa
Property taxes in Van Horne, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Van Horne is 1.40%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Van Horne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Van Horne 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 Van Horne's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52346 has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Van Horne 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 Van Horne Tax Rate
1.40%
Average Benton County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Van Horne, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52346 | 0.93% | 1.08% | 1.40% | 1.46% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Van Horne, Benton County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Van Horne, Iowa. 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 Appraisal District 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 Van Horne, 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 Van Horne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $191,400, with tax bills ranging from $1,692 at the 25th percentile to $5,320 at the 90th percentile. The zip code 52346 has the highest and lowest median tax bill of $2,390.
Property Tax Assessment Values Across Van Horne, Benton County, Iowa
Source: Ownwell
$87,000
$236,925
$386,850
Average Van Horne Assessed Value
$191,400
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 Van Horne, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52346 | $91,310 | $133,250 | $191,400 | $274,575 | $473,340 |
Source: Ownwell
Property Tax Bills Across Van Horne, Benton County, Iowa
In Van Horne, Benton County, IA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $191,400, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors influencing the tax bill include property size, location, and any improvements made. The tax bill at the 25th percentile is $1,692, while at the 75th percentile, it reaches $3,313. At the 90th percentile, homeowners might pay up to $5,320. The highest and lowest median tax bills in the region are both $2,390, reflecting a consistent tax rate across different properties. These taxes fund essential local services like schools, infrastructure, and emergency services, directly impacting homeowners by supporting community development and maintenance.
Average Van Horne Tax Bill
$2,390
Average Benton County Tax Bill
$2,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Van Horne, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52346 | $1,238 | $1,692 | $2,390 | $3,313 | $5,320 |
Source: Ownwell