Armstrong, Iowa Property Taxes
The median property tax rate in Armstrong, IA is 0.98%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With the median home value in Armstrong at $112,650, the typical annual property tax bill is $1,088, which is lower than the national median of $2,690. Property taxes in Armstrong 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 Armstrong'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 Armstrong 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
Armstrong, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,104
Ownwell’s Armstrong Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Armstrong with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Armstrong 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 Armstrong, Iowa
Property taxes in Armstrong, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Armstrong is 0.98%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Armstrong set these rates annually, and they can vary significantly across different neighborhoods. Each year, Armstrong 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 Armstrong's effective property tax rate to other areas in Emmet County and the national median. For comparison, the zip code 50514 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Armstrong provides valuable insights into the varying tax landscape across Emmet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Armstrong Tax Rate
0.98%
Average Emmet County Tax Rate
1.51%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Armstrong, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50514 | 0.81% | 0.90% | 0.98% | 1.14% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Armstrong, Iowa
In Armstrong, 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 Emmet 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 Armstrong, 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 Armstrong helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bill in Armstrong is $1088, both found in the 50514 zip code.
Average Armstrong Assessed Value
$112,650
Average Emmet County Assessed Value
$98,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Armstrong, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50514 | $36,720 | $65,775 | $112,650 | $179,400 | $276,910 |
Source: Ownwell
Property Tax Bills Across Armstrong, Iowa
In Armstrong, Emmet County, IA, property tax bills are calculated based on the assessed value of a home, which differs from its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $112,650, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. The 25th percentile tax bill in Armstrong is around $638, while the 75th percentile reaches up to $1,827. At the higher end, the 90th percentile tax bill can be as much as $2,846. Factors influencing the tax bill include property size, location, and any applicable exemptions or deductions. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Armstrong's tax rates reflect the local government's revenue needs and priorities, thereby shaping the community's overall quality of life.
Average Armstrong Tax Bill
$1,088
Average Emmet County Tax Bill
$1,436
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Armstrong, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50514 | $336 | $638 | $1,088 | $1,827 | $2,846 |
Source: Ownwell