Stockport, Iowa Property Taxes
The median property tax rate in Stockport, IA is 1.00%, slightly above the national median of 0.99% but below the Iowa state median of 1.54%. With the median home value in Stockport at $165,100, the typical annual property tax bill amounts to $1,551, which is less than the national median of $2,690. Property taxes in Stockport are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stockport'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 Stockport 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
Stockport, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,651
Ownwell’s Stockport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockport 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 Stockport, Iowa
Property taxes in Stockport, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockport is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Stockport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockport 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 Stockport's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52651 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Stockport provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stockport Tax Rate
1.00%
Average Jefferson County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52651 | 0.92% | 0.95% | 1.00% | 1.03% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Stockport, Iowa
In Stockport, 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 Jefferson 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 Stockport, 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 Stockport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Stockport is $1551.00 in the 52651 zip code, while the lowest median tax bill is also $1551.00 in the same zip code.
Average Stockport Assessed Value
$165,100
Average Jefferson County Assessed Value
$132,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stockport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52651 | $40,900 | $119,900 | $165,100 | $195,500 | $234,900 |
Source: Ownwell
Property Tax Bills Across Stockport, Iowa
In Stockport, IA, property tax bills are calculated based on the assessed value of the property and the local tax rate set by Jefferson County. The assessed value is determined by the county assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and any improvements or renovations. For homeowners in Stockport, understanding these factors is crucial, as they directly impact the amount owed in property taxes. For instance, the median home price in Stockport is $165,100, and property tax bills range from $1,202 at the 25th percentile to $2,392 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Stockport's property tax rates can vary significantly, affecting homeowners' annual financial planning. By keeping abreast of these details, homeowners can better anticipate their property tax obligations and budget accordingly.
Average Stockport Tax Bill
$1,551
Average Jefferson County Tax Bill
$1,806
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52651 | $776 | $1,202 | $1,551 | $1,882 | $2,392 |
Source: Ownwell