Lohrville, Iowa Property Taxes
The median property tax rate in Lohrville, IA is 1.18%, considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Lohrville, the typical annual property tax bill reaches $1,050, which is below the national median of $2,690. Property taxes in Lohrville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lohrville'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 Lohrville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lohrville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$981
Ownwell’s Lohrville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lohrville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lohrville 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 Lohrville, Iowa
Property taxes in Lohrville, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lohrville is 1.18%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Lohrville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lohrville 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 Lohrville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51453 zip code has the highest median property tax rate of 1.18%, while the lowest median tax rate is also 1.18%. Understanding how these cities compare with Lohrville provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lohrville Tax Rate
1.18%
Average Calhoun County Tax Rate
1.32%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lohrville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51453 | 0.86% | 1.01% | 1.18% | 1.42% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Lohrville, Iowa
In Lohrville, 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 Calhoun 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 Lohrville, 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 Lohrville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 51453 has the highest and lowest median tax bill of $1,050.
Average Lohrville Assessed Value
$83,095
Average Calhoun County Assessed Value
$99,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lohrville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51453 | $20,011 | $45,438 | $83,095 | $161,328 | $257,400 |
Source: Ownwell
Property Tax Bills Across Lohrville, Iowa
In Lohrville, located in Calhoun County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Lohrville is $83,095. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, a home assessed at the median price would have a tax bill around the median range. Factors such as the property's location, size, and improvements can influence its assessed value. Homeowners in Lohrville experience varied tax bills, with the 25th percentile paying around $532 and the 75th percentile facing bills up to $1,813. The 90th percentile sees even higher bills, reaching approximately $2,761. Compared to the national median property tax rate of 0.99%, Lohrville's property taxes can significantly impact homeowners' budgets. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Lohrville Tax Bill
$1,050
Average Calhoun County Tax Bill
$1,396
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lohrville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51453 | $228 | $532 | $1,050 | $1,813 | $2,761 |
Source: Ownwell