Lone Tree, Iowa Property Taxes
The median property tax rate in Lone Tree, IA is 1.21%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $187,000 in Lone Tree, the typical annual property tax bill is $2,285, slightly below the national median of $2,690. Property taxes in Lone Tree are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lone Tree'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 Lone Tree 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
Lone Tree, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,263
Ownwell’s Lone Tree Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lone Tree with just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lone Tree to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lone Tree, Iowa
Property taxes in Lone Tree, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lone Tree is 1.21%, which is higher than the U.S. national median of 0.99%. Local government entities within Lone Tree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lone Tree 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 Lone Tree's effective property tax rate to other regions and the national median. For comparison, the zip code 52755 has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these areas compare with Lone Tree 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 Lone Tree Tax Rate
1.21%
Average Johnson County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lone Tree, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52755 | 1.05% | 1.12% | 1.21% | 1.28% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Lone Tree, Iowa
In Lone Tree, 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 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 Lone Tree, 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 Lone Tree helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lone Tree is $187,000, with tax bills ranging from $1,598 at the 25th percentile to $3,866 at the 90th percentile. The highest and lowest median tax bills, both at $2,285, are found in zip code 52755.
Average Lone Tree Assessed Value
$187,000
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 Lone Tree, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52755 | $81,570 | $128,725 | $187,000 | $247,200 | $314,460 |
Source: Ownwell
Property Tax Bills Across Lone Tree, Iowa
In Lone Tree, Johnson County, IA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The process begins with the county assessor determining the property's assessed value, which is a percentage of its market value. Homeowners in Lone Tree experience a range of property tax bills; at the 25th percentile, the tax bill is around $1,598, while at the 75th percentile, it rises to approximately $3,026. The 90th percentile sees tax bills as high as $3,866. These figures reflect how various factors, such as property size, location, and improvements, influence the assessed value. Compared to the national median property tax rate of 0.99%, Lone Tree's tax rates can result in higher or lower tax bills depending on individual circumstances. For homeowners, understanding these factors and how they contribute to their tax obligations is crucial for financial planning and budgeting. The highest median tax bill recorded in the area is $2,285, highlighting the variability within the region.
Average Lone Tree Tax Bill
$2,285
Average Johnson County Tax Bill
$3,786
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lone Tree, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52755 | $1,024 | $1,598 | $2,285 | $3,026 | $3,866 |
Source: Ownwell