Lisbon, Iowa Property Taxes
The median property tax rate in Lisbon, IA is 1.24%, 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 $239,300, the typical annual property tax bill in Lisbon reaches $2,886, surpassing the national median of $2,690. Property taxes in Lisbon are based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Lisbon'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 Lisbon or another part of Johnson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lisbon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$2,967
Ownwell’s Lisbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisbon 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 Lisbon, Iowa
Property taxes in Lisbon, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisbon is 1.24%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Lisbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisbon 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 Lisbon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52253 zip code has the highest median property tax rate of 1.24%, while the 52253 zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Lisbon provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lisbon Tax Rate
1.24%
Average Johnson County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisbon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52253 | 1.13% | 1.18% | 1.24% | 1.29% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Lisbon, Iowa
In Lisbon, 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 Johnson County Appraisal District 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 Lisbon, 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 Lisbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52253 has the highest and lowest median tax bill at $2,886.
Average Lisbon Assessed Value
$239,300
Average Johnson County Assessed Value
$229,790
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lisbon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52253 | $38,140 | $119,400 | $239,300 | $320,400 | $413,280 |
Source: Ownwell
Property Tax Bills Across Lisbon, Iowa
In Lisbon, Johnson County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value and apply an assessment ratio. Homeowners in Lisbon can expect their property tax bills to vary widely, with the 25th percentile tax bill at $2,000 and the 75th percentile reaching $3,995. For those at the 90th percentile, the tax bill can go up to $4,704. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community's quality of life. With a median home price of $239,300, Lisbon's property tax rate is slightly above the national median rate of 0.99%. The highest and lowest median tax bills in the area are both $2,886, suggesting a relatively uniform tax burden within the zip code 52253. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Lisbon Tax Bill
$2,886
Average Johnson County Tax Bill
$3,786
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisbon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52253 | $999 | $2,000 | $2,886 | $3,995 | $4,704 |
Source: Ownwell