Lamoni, Decatur County, Iowa Property Taxes

Name: Property Tax Bills Across Lamoni, Decatur County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lamoni, IA effective property tax rate: 1.99%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Lamoni, IA home value: $79,494
Median annual Lamoni, IA tax bill: $1,624, $776 lower than the national median property tax bill of $2,400.

How are property taxes in Decatur calculated?

Property taxes in Lamoni, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Lamoni’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lamoni, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lamoni, Decatur County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.99%

Estimate Property Tax Bill

$1,582

$1,468

Ownwell’s Lamoni Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lamoni with just two data points. By entering your property's estimated assessed value, our calculator applies Lamoni’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Decatur County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lamoni, Decatur County, Iowa

Local government entities determine tax rates, which can differ significantly across a state. This is because every year, each county calculates its required budget to maintain services and divides that figure by the total value of all taxable property within its area. This process establishes the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the yearly procedure. In Lamoni, located in Decatur County, the effective property tax rate is 1.99%, which is notably higher than the national median property tax rate of 1.02%. This rate is consistent across Decatur County, making it the highest and lowest median tax rate in the area. Comparatively, Lamoni's property tax rate stands out against other cities in Iowa and the U.S. This highlights the importance of understanding your local tax rate and exploring potential savings through property tax appeals and exemptions.

Property Tax Rates Across Lamoni, Decatur County, Iowa

Source: Ownwell

1.12%

1.55%

1.99%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Lamoni Tax Rate

1.99%

Median Effective Decatur County Tax Rate

1.59%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lamoni, Decatur County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50140	1.07%	1.49%	1.99%	2.41%	2.89%

Source: Ownwell

Property Tax Assessment Values Across Lamoni, Decatur County, Iowa

When examining property taxes in Lamoni, Iowa, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Decatur County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Decatur County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lamoni. For example, the median home price in Lamoni is $79,494, with tax bills ranging significantly across the county. Zip code 50140 has the highest median home price at $79,494.

Property Tax Assessment Values Across Lamoni, Decatur County, Iowa

Source: Ownwell

$24,310

$69,241

$114,172

Median Lamoni Market Value

$79,494

Median Decatur County Market Value

$57,520

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lamoni, Decatur County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50140	$6,324	$28,152	$79,494	$133,441	$192,351

Source: Ownwell

Property Tax Bills Across Lamoni, Decatur County, Iowa

In Lamoni, Decatur County, IA, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is a percentage of the market value, reflecting the home's worth. The median home price in Lamoni is $79,494, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $605, while the 75th percentile reaches $2,566, and the 90th percentile can be as high as $3,746. These figures show the range of tax bills homeowners might face, influenced by factors like property location and local tax rates. Compared to the national median property tax bill of $2,400, Lamoni's tax bills can be relatively high or low, depending on the percentile. Ownwell can assist homeowners by reviewing their property tax assessments and identifying potential inaccuracies or overvaluations. By filing appeals and seeking exemptions, Ownwell helps homeowners reduce their tax burdens, ensuring they pay only their fair share.

Property Tax Bills Across Lamoni, Decatur County, Iowa

Source: Ownwell

$414

$1,019

$1,624

Median Lamoni Tax Bill

$1,624

Median Decatur County Tax Bill

$928

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Lamoni, Decatur County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50140	$148	$605	$1,624	$2,566	$3,746

Source: Ownwell