Jasper County, Iowa Property Taxes
The median property tax rate in Jasper County is 1.61%, which is significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Jasper County, the typical annual property tax bill reaches $2,548, which is slightly below the national median of $2,690. Property taxes in Jasper County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Jasper County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Newton or another part of Jasper County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jasper County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$2,679
$2,486
Ownwell’s Jasper County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Jasper County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Jasper County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Jasper County, Iowa
Property taxes in Jasper County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Jasper County is 1.61%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Jasper County set these rates annually, and they can vary significantly between different areas within the county. Each year, Jasper County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Maxwell has one of the higher property tax rates in Iowa at 1.98%, while the city of Killduff boasts one of the lowest at 0.98%. Analyzing how Jasper County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Jasper County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jasper County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baxter | 1.24% | 1.30% | 1.70% | 1.82% | 1.87% |
| Colfax | 1.17% | 1.24% | 1.64% | 1.81% | 1.88% |
| Collins | 1.44% | 1.67% | 1.81% | 1.91% | 2.00% |
| Gilman | 0.99% | 1.05% | 1.10% | 1.16% | 1.25% |
| Grinnell | 1.06% | 1.14% | 1.17% | 1.30% | 1.38% |
| Ira | 0.99% | 1.12% | 1.17% | 1.27% | 1.30% |
| Kellogg | 0.94% | 1.01% | 1.14% | 1.22% | 1.32% |
| Killduff | 0.93% | 0.96% | 0.98% | 1.07% | 1.11% |
| Laurel | 1.04% | 1.07% | 1.14% | 1.21% | 1.24% |
| Lynnville | 0.98% | 1.02% | 1.10% | 1.19% | 1.28% |
| Maxwell | N/A | N/A | N/A | N/A | N/A |
| Melbourne | N/A | N/A | N/A | N/A | N/A |
| Mingo | 1.19% | 1.22% | 1.51% | 1.73% | 1.92% |
| Mitchellville | 1.04% | 1.11% | 1.18% | 1.24% | 1.37% |
| Monroe | 1.13% | 1.28% | 1.37% | 1.45% | 1.49% |
| Newton | 1.23% | 1.62% | 1.77% | 1.88% | 1.92% |
| Prairie City | 1.19% | 1.40% | 1.48% | 1.54% | 1.70% |
| Reasnor | 0.98% | 1.05% | 1.21% | 1.97% | 2.21% |
| Rhodes | 1.19% | 1.26% | 1.43% | 1.79% | 2.05% |
| Runnells | 1.45% | 1.62% | 1.67% | 1.74% | 1.76% |
| Searsboro | N/A | N/A | N/A | N/A | N/A |
| Sully | 0.97% | 1.05% | 1.22% | 1.29% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Jasper County, Iowa
In Jasper County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Jasper County Appraisal District. The assessed value, however, 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 Jasper County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Jasper County, Mitchellville has the highest median tax bill at $3,327, while Ira has the lowest at $906. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Jasper County Assessed Value
$166,390
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jasper County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baxter | $96,412 | $139,740 | $188,200 | $285,240 | $400,452 |
| Colfax | $61,662 | $108,530 | $165,540 | $236,645 | $332,404 |
| Collins | $96,028 | $134,052 | $178,830 | $257,365 | $344,605 |
| Gilman | $118,314 | $161,978 | $183,700 | $240,395 | $347,095 |
| Grinnell | $92,540 | $164,800 | $236,650 | $337,510 | $444,300 |
| Ira | $38,434 | $55,968 | $87,620 | $119,490 | $163,332 |
| Kellogg | $47,767 | $90,938 | $151,250 | $225,275 | $301,666 |
| Killduff | $43,866 | $89,120 | $117,080 | $153,915 | $204,714 |
| Laurel | $121,199 | $145,082 | $205,305 | $274,525 | $324,842 |
| Lynnville | $64,992 | $120,870 | $181,910 | $279,020 | $363,730 |
| Maxwell | N/A | N/A | N/A | N/A | N/A |
| Melbourne | N/A | N/A | N/A | N/A | N/A |
| Mingo | $53,431 | $111,915 | $178,120 | $276,778 | $362,991 |
| Mitchellville | $166,703 | $207,952 | $284,670 | $389,390 | $517,687 |
| Monroe | $86,931 | $133,675 | $179,850 | $259,380 | $355,808 |
| Newton | $78,208 | $106,620 | $153,610 | $222,228 | $310,610 |
| Prairie City | $109,086 | $144,735 | $189,200 | $255,590 | $332,924 |
| Reasnor | $37,984 | $68,380 | $123,980 | $206,580 | $319,416 |
| Rhodes | $88,226 | $111,152 | $238,875 | $323,212 | $414,295 |
| Runnells | $99,563 | $126,120 | $169,370 | $223,488 | $289,271 |
| Searsboro | N/A | N/A | N/A | N/A | N/A |
| Sully | $102,545 | $144,478 | $194,635 | $255,855 | $334,485 |
Source: Ownwell
Property Tax Bills Across Jasper County, Iowa
In Jasper County, IA, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimation of the property's worth, usually based on market conditions and property characteristics. This value is then adjusted by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements. For instance, homeowners in Mitchellville face the highest median tax bill at $3,327, reflecting higher property values or tax rates. Conversely, Ira residents experience the lowest median tax bill at $906, suggesting more modest property values or lower rates. Homeowners in Jasper County generally see tax bills ranging from $1,778 at the 25th percentile to $3,524 at the 75th percentile, with the 90th percentile reaching $4,804. Compared to the national median property tax rate of 0.99%, Jasper County's rates can significantly impact household budgets, making it crucial for homeowners to understand their property's assessed value and the applicable tax rate.
Average Jasper County Tax Bill
$2,548
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Jasper County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baxter | $1,526 | $2,226 | $2,994 | $4,230 | $5,654 |
| Colfax | $940 | $1,766 | $2,558 | $3,452 | $4,465 |
| Collins | $1,860 | $2,281 | $3,162 | $4,693 | $5,999 |
| Gilman | $1,243 | $1,721 | $2,205 | $2,944 | $3,749 |
| Grinnell | $1,046 | $1,984 | $2,840 | $4,044 | $5,239 |
| Ira | $424 | $656 | $906 | $1,418 | $1,888 |
| Kellogg | $499 | $1,021 | $1,600 | $2,604 | $3,526 |
| Killduff | $414 | $845 | $1,153 | $1,472 | $1,899 |
| Laurel | $1,385 | $1,662 | $2,343 | $3,098 | $3,743 |
| Lynnville | $640 | $1,340 | $2,001 | $2,982 | $3,977 |
| Maxwell | N/A | N/A | N/A | N/A | N/A |
| Melbourne | N/A | N/A | N/A | N/A | N/A |
| Mingo | $871 | $1,809 | $2,782 | $3,778 | $5,050 |
| Mitchellville | $1,863 | $2,310 | $3,327 | $4,646 | $6,097 |
| Monroe | $1,176 | $1,804 | $2,438 | $3,400 | $4,714 |
| Newton | $1,372 | $1,867 | $2,616 | $3,621 | $4,918 |
| Prairie City | $1,444 | $2,084 | $2,748 | $3,744 | $4,794 |
| Reasnor | $594 | $1,114 | $1,753 | $2,434 | $3,366 |
| Rhodes | $737 | $1,766 | $3,313 | $4,893 | $5,321 |
| Runnells | $1,449 | $2,068 | $2,761 | $3,754 | $4,963 |
| Searsboro | N/A | N/A | N/A | N/A | N/A |
| Sully | $1,184 | $1,732 | $2,299 | $2,943 | $3,647 |
Source: Ownwell