Hubbard, Hardin County, Iowa Property Taxes
The median property tax rate in Hubbard, IA is 1.60%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Hubbard, the typical annual property tax bill reaches $1,689, which is below the national median of $2,690. Property taxes in Hubbard are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hubbard'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 Hubbard 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
Hubbard, Hardin County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$1,769
$1,642
Ownwell’s Hubbard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hubbard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hubbard 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 Hubbard, Hardin County, Iowa
Property taxes in Hubbard, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hubbard is 1.60%, which is significantly higher than the Iowa state median and the U.S. national median of 0.99%. Local government entities within Hubbard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hubbard 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 Hubbard's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50122 has the highest median property tax rate of 1.60%, while the same zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Hubbard provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hubbard Tax Rate
1.60%
Average Hardin County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hubbard, Hardin County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50122 | 1.14% | 1.29% | 1.60% | 1.76% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Hubbard, Hardin County, Iowa
In Hubbard, 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 Hardin 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 Hubbard, 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 Hubbard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hubbard is $110,590, with the highest median tax bill in zip code 50122 being $1,689.
Property Tax Assessment Values Across Hubbard, Hardin County, Iowa
Source: Ownwell
$49,590
$80,755
$111,920
Average Hubbard Assessed Value
$110,590
Average Hardin County Assessed Value
$94,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hubbard, Hardin County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50122 | $38,126 | $68,440 | $110,590 | $162,675 | $231,798 |
Source: Ownwell
Property Tax Bills Across Hubbard, Hardin County, Iowa
Property tax bills in Hubbard, IA, are calculated based on the assessed value of a property and the local tax rate set by Hardin County. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements. For instance, in Hubbard, the median home price is $110,590, and property tax bills can vary significantly. The 25th percentile tax bill is $1,020, while the 75th percentile tax bill is $2,581, reflecting the range of property values and assessments. The highest median tax bill in the area is $1,689, which is consistent across the zip code 50122. Homeowners in Hubbard experience varying tax burdens based on these assessments, which can influence their financial planning and property investment decisions. Compared to the national median property tax rate of 0.99%, Hubbard's rates reflect the local economic conditions and public service funding needs.
Average Hubbard Tax Bill
$1,689
Average Hardin County Tax Bill
$1,480
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Hubbard, Hardin County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50122 | $571 | $1,020 | $1,689 | $2,581 | $3,704 |
Source: Ownwell