Truesdale, Iowa Property Taxes
The median property tax rate in Truesdale, IA is 1.23%, 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 $34,295 in Truesdale, the typical annual property tax bill amounts to $409, significantly below the national median of $2,690. Property taxes in Truesdale are determined based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Truesdale's property tax system, identifying available exemptions, and exploring opportunities for reductions can result in considerable annual savings. Whether you're living in Truesdale or investing in property there, a thorough understanding of the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Truesdale, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$422
Ownwell’s Truesdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Truesdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Truesdale 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 Truesdale, Iowa
Property taxes in Truesdale, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Truesdale is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Truesdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Truesdale 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 Truesdale's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 50592 has both the highest and lowest median property tax rate of 1.23%. Understanding how these areas compare with Truesdale provides valuable insights into the varying tax landscape across Buena Vista County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Truesdale Tax Rate
1.23%
Average Buena Vista County Tax Rate
1.46%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Truesdale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50592 | 0.68% | 1.03% | 1.23% | 1.46% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Truesdale, Iowa
In Truesdale, 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 Buena Vista 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 Truesdale, 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 Truesdale is $34,295, and the property tax bills range from $240 at the 25th percentile to $807 at the 90th percentile. The zip code with the highest and lowest median tax bill is 50592, with a value of $409. Being aware of these valuation processes in Truesdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Truesdale Assessed Value
$34,295
Average Buena Vista County Assessed Value
$152,730
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Truesdale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50592 | $10,158 | $18,648 | $34,295 | $46,790 | $67,823 |
Source: Ownwell
Property Tax Bills Across Truesdale, Iowa
In Truesdale, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The median home price in Truesdale stands at $34,295. The property tax rate for Buena Vista County plays a crucial role in calculating the final tax bill. For instance, homeowners at the 25th percentile can expect a tax bill around $240, while those at the 75th percentile might see a bill closer to $606. The 90th percentile tax bill can reach up to $807. Factors such as property size, location, and any applicable exemptions are considered when determining the assessed value. These tax bills significantly impact homeowners, influencing their annual budget and long-term financial planning. Compared to the national median property tax rate of 0.99%, Truesdale's rate can be seen as relatively moderate, making the area potentially more attractive for those looking to manage their property expenses efficiently.
Average Truesdale Tax Bill
$409
Average Buena Vista County Tax Bill
$2,124
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Truesdale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50592 | $75 | $240 | $409 | $606 | $807 |
Source: Ownwell