Sioux Rapids, Clay County, Iowa Property Taxes
The median property tax rate in Sioux Rapids, IA is 1.02%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $158,545 in Sioux Rapids, the typical annual property tax bill amounts to $1,622, which is below the national median of $2,690. Property taxes in Sioux Rapids are calculated based on the tax assessed value, often less than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Sioux Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sioux Rapids 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
Sioux Rapids, Clay County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,617
$1,501
Ownwell’s Sioux Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sioux Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sioux Rapids 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 Sioux Rapids, Clay County, Iowa
Property taxes in Sioux Rapids, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sioux Rapids is 1.02%, higher than both the Iowa state median of 1.00% and the U.S. national median of 0.99%. Local government entities within Sioux Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sioux Rapids 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 Sioux Rapids' effective property tax rate to other counties in Iowa and the national median. For comparison, the 50585 zip code has the highest median property tax rate of 1.02%, while the 50585 zip code has the lowest median tax rate of 1.02%. Understanding how these cities compare with Sioux Rapids provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sioux Rapids Tax Rate
1.02%
Average Clay County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sioux Rapids, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50585 | 0.88% | 0.96% | 1.02% | 1.15% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Sioux Rapids, Clay County, Iowa
In Sioux Rapids, 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 Clay 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 Sioux Rapids, 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 Sioux Rapids is $158,545, with the highest median tax bill being $1,622 in zip code 50585. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sioux Rapids, Clay County, Iowa
Source: Ownwell
$57,080
$137,660
$218,240
Average Sioux Rapids Assessed Value
$158,545
Average Clay County Assessed Value
$145,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sioux Rapids, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50585 | $59,827 | $108,070 | $158,545 | $220,635 | $295,687 |
Source: Ownwell
Property Tax Bills Across Sioux Rapids, Clay County, Iowa
In Sioux Rapids, property tax bills are determined based on the assessed value of a home and the local tax rate set by Clay County. The assessed value is typically a percentage of the market value of the property. For instance, if the median home price in Sioux Rapids is $158,545, the tax bill can vary widely depending on the precise assessed value and applicable tax rates. The 25th percentile tax bill is approximately $1,070, while the 75th percentile tax bill reaches around $2,323. Homeowners in the 90th percentile can expect to pay up to $3,172 in property taxes. Factors influencing these amounts include property location, improvements, and market trends. Compared to the national median property tax rate of 0.99%, Sioux Rapids' tax rates reflect local economic conditions and funding needs for public services. As a result, property taxes can significantly impact homeowners, influencing decisions on home purchases and financial planning.
Average Sioux Rapids Tax Bill
$1,622
Average Clay County Tax Bill
$1,910
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Sioux Rapids, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50585 | $667 | $1,070 | $1,622 | $2,323 | $3,172 |
Source: Ownwell