Kamrar, Hamilton County, Iowa Property Taxes
The median property tax rate in Kamrar, IA is 1.24%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $86,690, the typical annual property tax bill in Kamrar is $1,089, significantly less than the national median of $2,690. Property taxes in Kamrar are calculated based on the assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kamrar'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 Kamrar or another part of Hamilton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kamrar, Hamilton County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,075
$998
Ownwell’s Kamrar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kamrar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kamrar 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 Hamilton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kamrar, Hamilton County, Iowa
Property taxes in Kamrar, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kamrar is 1.24%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Kamrar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kamrar 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 Kamrar's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50132 zip code has the highest median property tax rate of 1.24%, while the 50132 zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Kamrar provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kamrar Tax Rate
1.24%
Average Hamilton County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kamrar, Hamilton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50132 | 0.98% | 1.06% | 1.24% | 1.50% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Kamrar, Hamilton County, Iowa
In Kamrar, 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 Hamilton 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. Assessment notices in Kamrar 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 Kamrar is $86,690, with tax bills ranging from the 25th percentile at $644 to the 75th percentile at $2024, and the 90th percentile reaching $3115. The zip code 50132 has the highest and lowest median tax bill, both at $1089. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Kamrar, Hamilton County, Iowa
Source: Ownwell
$86,690
$159,338
$231,985
Average Kamrar Assessed Value
$86,690
Average Hamilton County Assessed Value
$127,340
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kamrar, Hamilton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50132 | $24,590 | $47,070 | $86,690 | $165,340 | $285,328 |
Source: Ownwell
Property Tax Bills Across Kamrar, Hamilton County, Iowa
In Kamrar, located in Hamilton County, IA, property tax bills are determined by assessing the market value of a home and applying the local property tax rate. The median home price in Kamrar is $86,690. Property taxes are calculated by taking a percentage of the assessed value, which is then multiplied by the applicable tax rate. For homeowners in Kamrar, the median property tax bill is $1,089, which is slightly above the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. The 25th percentile tax bill in Kamrar is $644, while the 75th percentile reaches $2,024, and the 90th percentile can be as high as $3,115. These variations show how different property values and individual circumstances can impact the overall tax burden on homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Kamrar Tax Bill
$1,089
Average Hamilton County Tax Bill
$1,946
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Kamrar, Hamilton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50132 | $406 | $644 | $1,089 | $2,024 | $3,115 |
Source: Ownwell