Neola, Iowa Property Taxes
The median property tax rate in Neola, IA is 1.05%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $256,380 in Neola, the typical annual property tax bill amounts to $2,688, just under the national median of $2,690. Property taxes in Neola are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding Neola'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 Neola or another part of Harrison County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Neola, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,692
Ownwell’s Neola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neola 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 Neola, Iowa
Property taxes in Neola, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neola is 1.05%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Neola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neola 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 Neola's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51559 zip code has the highest median property tax rate of 1.05%, while the same 51559 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Neola provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Neola Tax Rate
1.05%
Average Harrison County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neola, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51559 | 1.00% | 1.02% | 1.05% | 1.10% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Neola, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Neola, 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 Pottawattamie 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 Neola, 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 Neola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 51559 zip code has the highest and lowest median tax bill at $2,688, offering a unique insight into property tax variations within the area.
Average Neola Assessed Value
$256,380
Average Harrison County Assessed Value
$150,125
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Neola, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51559 | $136,038 | $175,172 | $256,380 | $344,662 | $416,359 |
Source: Ownwell
Property Tax Bills Across Neola, Iowa
In Neola, IA, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. For example, a home with a median price of $256,380 will have its tax bill calculated by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property size, location, and improvements. Homeowners in Neola can expect their property tax bills to vary significantly. The tax bill at the 25th percentile is $1,937, while at the 75th percentile, it rises to $3,638, and the 90th percentile sees bills as high as $4,266. Comparatively, Neola's property tax rate is competitive, with the highest and lowest median tax bills both recorded at $2,688 in the ZIP code 51559, aligning closely with the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations accurately.
Average Neola Tax Bill
$2,688
Average Harrison County Tax Bill
$1,959
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Neola, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51559 | $1,460 | $1,937 | $2,688 | $3,638 | $4,266 |
Source: Ownwell