North Liberty, Iowa Property Taxes
The median property tax rate in North Liberty, IA is 1.59%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in North Liberty at $251,250, the typical annual property tax bill reaches $3,886, exceeding the national median of $2,690. Property taxes in North Liberty are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Liberty'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 North Liberty 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
North Liberty, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$3,995
Ownwell’s North Liberty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Liberty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Liberty 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 Johnson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across North Liberty, Iowa
Property taxes in North Liberty, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Liberty is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Liberty 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 North Liberty's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52317 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with North Liberty 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 North Liberty Tax Rate
1.59%
Average Johnson County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Liberty, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52317 | 1.32% | 1.49% | 1.59% | 1.68% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across North Liberty, Iowa
In North Liberty, 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 North Liberty, 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 North Liberty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52317 has the highest median tax bill at $3,886, which is significantly above the national median property tax rate of 0.99%.
Average North Liberty Assessed Value
$251,250
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 North Liberty, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52317 | $119,300 | $161,400 | $251,250 | $373,725 | $483,710 |
Source: Ownwell
Property Tax Bills Across North Liberty, Iowa
In North Liberty, located in Johnson County, IA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of your property. Once the assessment is completed, the local tax rate is applied to this value to calculate your annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in North Liberty is $251,250. Homeowners in this area experience a range of tax bills, with the 25th percentile paying around $2,618 and those in the 75th percentile paying up to $5,790. The highest median tax bill in the 52317 zip code is $3,886. These property taxes significantly impact homeowners, as they contribute to local services like schools, infrastructure, and emergency services. Comparing this to the national median property tax rate of 0.99%, North Liberty's rates reflect the community's commitment to maintaining quality public services.
Average North Liberty Tax Bill
$3,886
Average Johnson County Tax Bill
$3,786
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across North Liberty, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52317 | $1,944 | $2,618 | $3,886 | $5,790 | $7,706 |
Source: Ownwell