Kelley, Boone County, Iowa Property Taxes
The median property tax rate in Kelley, IA is 1.21%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $271,530 in Kelley, the typical annual property tax bill amounts to $2,965, surpassing the national median of $2,690. Property taxes in Kelley are based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kelley'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 Kelley or another part of Boone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kelley, Boone County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$3,286
$3,049
Ownwell’s Kelley Property Tax Bill Calculator allows homeowners, real estate investors, and potential owners to estimate their annual property taxes in Kelley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kelley 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 Kelley, Boone County, Iowa
Property taxes in Kelley, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kelley is 1.21%, which is notably higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Kelley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kelley 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 Kelley's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50134 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Kelley provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kelley Tax Rate
1.21%
Average Boone County Tax Rate
1.33%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kelley, Boone County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50134 | 0.83% | 1.17% | 1.21% | 1.28% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Kelley, Boone County, Iowa
In Kelley, 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 Boone 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 Kelley, 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 Kelley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50134 has the highest and lowest median tax bill, both at $2,965.
Property Tax Assessment Values Across Kelley, Boone County, Iowa
Source: Ownwell
$43,754
$227,632
$411,509
Average Kelley Assessed Value
$271,530
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 Kelley, Boone County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50134 | $129,170 | $174,969 | $271,530 | $367,307 | $482,588 |
Source: Ownwell
Property Tax Bills Across Kelley, Boone County, Iowa
In Kelley, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The tax rate in Boone County is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property location, size, and improvements made to the property. For instance, the median home price in Kelley is $271,530, and the median property tax bill is approximately $2,965, which is slightly above the national median property tax rate of 0.99%. Homeowners in Kelley might see tax bills ranging from $2,253 at the 25th percentile up to $4,908 at the 90th percentile, reflecting variations in property values and assessments. The property tax bill impacts homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these factors come together helps homeowners anticipate their financial obligations and plan accordingly.
Average Kelley Tax Bill
$2,965
Average Boone County Tax Bill
$2,464
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Kelley, Boone County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50134 | $1,674 | $2,253 | $2,965 | $4,036 | $4,908 |
Source: Ownwell