Superior, Iowa Property Taxes
The median property tax rate in Superior, IA is 0.93%, slightly below the national median of 0.99% and significantly lower than Iowa's state median of 1.54%. With the median home value in Superior at $58,700, the typical annual property tax bill amounts to $674, which is considerably less than the national median of $2,690. Property taxes in Superior are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Superior'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 Superior or another part of Dickinson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Superior, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$546
Ownwell’s Superior Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Superior with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Superior 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 Superior, Iowa
Property taxes in Superior, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Superior is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Superior set these rates annually, and they can vary significantly across different neighborhoods. Each year, Superior 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 Superior's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51363 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Superior provides valuable insights into the varying tax landscape across Dickinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Superior Tax Rate
0.93%
Average Dickinson County Tax Rate
0.82%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Superior, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51363 | 0.68% | 0.86% | 0.93% | 1.06% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Superior, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Superior, Iowa. 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 Dickinson 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 Superior, 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. For instance, the median home price in Superior is $58,700, with tax bills ranging from $204 at the 25th percentile to $1,331 at the 90th percentile. The highest and lowest median tax bills are both $674, found in the 51363 zip code. By understanding 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 Superior helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Superior Assessed Value
$58,700
Average Dickinson County Assessed Value
$263,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Superior, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51363 | $1,500 | $8,800 | $58,700 | $87,275 | $122,710 |
Source: Ownwell
Property Tax Bills Across Superior, Iowa
In Superior, located in Dickinson County, IA, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. For instance, with a median home price of $58,700, the property tax rate in this region results in varied tax bills. Homeowners in the 25th percentile of tax bills pay around $204 annually, while those in the 75th percentile face a tax bill of approximately $960. At the 90th percentile, the tax bill increases to about $1,331. These tax bills are influenced by factors such as property value, local government budgets, and specific levies for schools and infrastructure. For homeowners, these taxes can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, the property tax rate in Superior can be considered moderate. This structure ensures that property taxes are distributed in a manner that reflects both the value of the property and the financial needs of the community.
Average Superior Tax Bill
$674
Average Dickinson County Tax Bill
$2,470
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Superior, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51363 | $57 | $204 | $674 | $960 | $1,331 |
Source: Ownwell