Boone County, Iowa Property Taxes
The median property tax rate in Boone County is 1.33%, which is significantly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $185,354, the typical annual property tax bill in Boone County is $2,464, which is below the national median of $2,690. Property taxes in Boone County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Boone County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Boone or another part of Boone County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boone County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$2,465
$2,288
Ownwell’s Boone County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boone County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Boone County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Boone County, Iowa
Property taxes in Boone County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Boone County is 1.33%, which is higher than the U.S. national median of 0.99%. Local government entities within Boone County set these rates annually, and they can vary significantly between different areas within the county. Each year, Boone County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Boone County's effective property tax rate with other areas and the national median. For comparison, the city of Madrid has one of the higher property tax rates in Iowa at 1.57%, while the city of Dayton boasts one of the lowest at 0.77%. Analyzing how Boone County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Boone County Tax Rate
1.33%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boone County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ames | 0.77% | 0.82% | 0.87% | 1.10% | 1.15% |
| Beaver | 0.73% | 0.82% | 0.92% | 1.09% | 1.32% |
| Boone | 0.85% | 1.04% | 1.48% | 1.64% | 1.75% |
| Bouton | N/A | N/A | N/A | N/A | N/A |
| Boxholm | 0.74% | 0.79% | 0.89% | 0.97% | 1.08% |
| Dana | N/A | N/A | N/A | N/A | N/A |
| Dayton | 0.69% | 0.72% | 0.77% | 0.80% | 0.86% |
| Grand Junction | 0.95% | 0.96% | 1.00% | 1.09% | 1.25% |
| Kelley | 0.83% | 1.17% | 1.21% | 1.28% | 1.59% |
| Luther | 0.85% | 0.88% | 0.93% | 0.97% | 1.07% |
| Madrid | 0.77% | 1.03% | 1.57% | 1.70% | 1.78% |
| Ogden | 0.89% | 0.99% | 1.25% | 1.34% | 1.41% |
| Paton | 0.71% | 0.74% | 0.79% | 0.89% | 1.16% |
| Perry | 0.95% | 1.05% | 1.11% | 1.16% | 1.36% |
| Pilot Mound | 0.68% | 0.74% | 0.90% | 1.10% | 1.21% |
| Rippey | N/A | N/A | N/A | N/A | N/A |
| Sheldahl | 1.27% | 1.33% | 1.36% | 1.42% | 1.50% |
| Slater | N/A | N/A | N/A | N/A | N/A |
| Story City | 1.00% | 1.02% | 1.08% | 1.12% | 1.21% |
| Stratford | 0.75% | 0.76% | 0.83% | 0.87% | 0.99% |
| Woodward | 0.92% | 1.01% | 1.08% | 1.16% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Boone County, Iowa
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Boone County. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering factors like location, property condition, and current economic trends. For tax purposes, this value is estimated by the Boone County Appraisal District. The assessed value, however, 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. Assessment notices in Boone County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, the highest median tax bill in Boone County is in Slater at $5,145, while the lowest is in Beaver at $446. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Boone County Assessed Value
$185,354
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boone County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ames | $176,683 | $253,247 | $411,509 | $625,509 | $797,612 |
| Beaver | $5,100 | $11,164 | $43,754 | $80,164 | $92,127 |
| Boone | $60,985 | $110,781 | $169,384 | $263,791 | $371,087 |
| Bouton | N/A | N/A | N/A | N/A | N/A |
| Boxholm | $15,160 | $45,328 | $75,699 | $97,411 | $128,232 |
| Dana | N/A | N/A | N/A | N/A | N/A |
| Dayton | $64,372 | $121,706 | $189,514 | $265,998 | $293,962 |
| Grand Junction | $137,096 | $190,739 | $275,823 | $335,262 | $372,524 |
| Kelley | $129,170 | $174,969 | $271,530 | $367,307 | $482,588 |
| Luther | $44,336 | $87,202 | $156,092 | $231,328 | $256,326 |
| Madrid | $93,007 | $148,014 | $212,822 | $289,926 | $385,869 |
| Ogden | $74,025 | $132,776 | $198,246 | $269,637 | $347,154 |
| Paton | $97,973 | $170,671 | $209,104 | $306,964 | $323,349 |
| Perry | $38,032 | $158,218 | $257,042 | $320,606 | $435,208 |
| Pilot Mound | $15,450 | $41,640 | $87,852 | $193,673 | $300,209 |
| Rippey | N/A | N/A | N/A | N/A | N/A |
| Sheldahl | $17,871 | $106,229 | $175,216 | $204,228 | $236,828 |
| Slater | N/A | N/A | N/A | N/A | N/A |
| Story City | $144,711 | $174,077 | $243,555 | $389,674 | $597,497 |
| Stratford | $160,990 | $226,098 | $311,386 | $406,481 | $470,299 |
| Woodward | $111,688 | $172,576 | $251,969 | $319,165 | $390,097 |
Source: Ownwell
Property Tax Bills Across Boone County, Iowa
In Boone County, IA, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or changes made to the property. For homeowners in Boone County, the tax bill can vary significantly. For example, the 25th percentile tax bill is $1,528, while the 75th percentile tax bill is $3,501, and the 90th percentile tax bill reaches $4,742. The highest median tax bill in the county is found in Slater, where it is $5,145, while the lowest median tax bill is in Beaver, at $446. Compared to the national median property tax rate of 0.99%, Boone County's tax rates can create a wide range of financial impacts for homeowners, depending on their property's assessed value and location within the county.
Average Boone County Tax Bill
$2,464
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Boone County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ames | $1,333 | $2,274 | $3,676 | $5,810 | $7,826 |
| Beaver | $58 | $136 | $446 | $646 | $837 |
| Boone | $742 | $1,524 | $2,433 | $3,502 | $4,834 |
| Bouton | N/A | N/A | N/A | N/A | N/A |
| Boxholm | $124 | $419 | $616 | $814 | $1,047 |
| Dana | N/A | N/A | N/A | N/A | N/A |
| Dayton | $295 | $658 | $1,426 | $1,818 | $2,205 |
| Grand Junction | $1,812 | $2,100 | $2,713 | $3,442 | $4,028 |
| Kelley | $1,674 | $2,253 | $2,965 | $4,036 | $4,908 |
| Luther | $496 | $908 | $1,525 | $2,176 | $2,432 |
| Madrid | $1,147 | $1,995 | $2,942 | $3,875 | $4,838 |
| Ogden | $958 | $1,573 | $2,348 | $3,109 | $3,773 |
| Paton | $1,060 | $1,321 | $1,752 | $2,351 | $2,948 |
| Perry | $370 | $1,499 | $2,806 | $3,617 | $4,578 |
| Pilot Mound | $171 | $410 | $828 | $1,461 | $2,345 |
| Rippey | N/A | N/A | N/A | N/A | N/A |
| Sheldahl | $275 | $1,354 | $2,241 | $2,806 | $3,168 |
| Slater | N/A | N/A | N/A | N/A | N/A |
| Story City | $1,712 | $2,014 | $2,432 | $4,050 | $6,286 |
| Stratford | $1,526 | $1,922 | $2,581 | $3,472 | $3,663 |
| Woodward | $1,223 | $1,781 | $2,676 | $3,471 | $4,201 |
Source: Ownwell