Armstrong, Iowa Property Taxes
The median property tax rate in Armstrong, IA is 2.16%, significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Armstrong at $84,017, the typical annual property tax bill reaches $1,510, which is below the national median of $2,690. Property taxes in Armstrong are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Armstrong's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in Armstrong or another part of Kossuth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Armstrong, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.16%
Estimate Property Tax Bill
$1,815
Ownwell’s Armstrong Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Armstrong with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Armstrong to provide an estimate of 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 Armstrong, Iowa
Property taxes in Armstrong, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Armstrong is 1.21%, which is higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Armstrong set these rates annually, and they can vary significantly across different neighborhoods. Each year, Armstrong 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 Armstrong's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50514 zip code has the highest median property tax rate of 1.21%, while the 50514 zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Armstrong provides valuable insights into the varying tax landscape across Emmet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Armstrong Tax Rate
2.16%
Average Kossuth County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Armstrong, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50514 | 0.74% | 0.84% | 2.16% | 3.59% | 8.63% |
Source: Ownwell
Property Tax Assessment Values Across Armstrong, Iowa
In Armstrong, 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 Kossuth 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 Armstrong, 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 Armstrong helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 50514, both at $1,510.
Average Armstrong Assessed Value
$84,017
Average Kossuth County Assessed Value
$85,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Armstrong, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50514 | $14,412 | $25,412 | $84,017 | $143,015 | $185,258 |
Source: Ownwell
Property Tax Bills Across Armstrong, Iowa
In Armstrong, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the property. Various factors, such as the home's location, size, and condition, play a role in determining its market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Armstrong, the median home price is approximately $84,017. The property tax bill for the 25th percentile is around $992, while for the 75th percentile, it can reach up to $2,002. At the 90th percentile, homeowners might see tax bills as high as $2,923. Comparatively, the national median property tax rate is 0.99%, and Armstrong's rates reflect the local economic and property market conditions. These property taxes are essential for funding public services, including schools, infrastructure, and emergency services, directly impacting the quality of life for Armstrong residents.
Average Armstrong Tax Bill
$1,510
Average Kossuth County Tax Bill
$1,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Armstrong, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50514 | $675 | $992 | $1,510 | $2,002 | $2,923 |
Source: Ownwell