Springville, Linn County, Iowa Property Taxes
The median property tax rate in Springville, IA is 1.77%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Springville at $163,900, the typical annual property tax bill reaches $3,008, exceeding the national median of $2,690. Property taxes in Springville 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 Springville'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 Springville 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
Springville, Linn County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$2,901
$2,692
Ownwell’s Springville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springville 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 Springville, Linn County, Iowa
Property taxes in Springville, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springville is 1.77%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Springville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springville 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 Springville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52336 zip code has the highest median property tax rate of 1.77%, while the same zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with Springville provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springville Tax Rate
1.77%
Average Linn County Tax Rate
1.84%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springville, Linn County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52336 | 1.37% | 1.41% | 1.77% | 1.87% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Springville, Linn County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Springville, Iowa. 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 Linn 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 Springville, 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. For instance, the median home price is $163,900, with tax bills ranging from $2,200 at the 25th percentile to $7,800 at the 90th percentile. The highest and lowest median tax bills, both at $3,008, are found in zip code 52336. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Springville, Linn County, Iowa
Source: Ownwell
$80,400
$218,200
$356,000
Average Springville Assessed Value
$163,900
Average Linn County Assessed Value
$173,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Springville, Linn County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52336 | $47,700 | $111,900 | $163,900 | $243,850 | $336,100 |
Source: Ownwell
Property Tax Bills Across Springville, Linn County, Iowa
In Springville, Linn County, IA, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to calculate your tax bill. The median home price in Springville is $163,900, which gives homeowners an idea of their potential tax liability. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value. Comparatively, the national median property tax rate is 0.99%, and Springville's tax bills reflect this with significant variation. For instance, the 25th percentile tax bill is $2,200, while the 75th percentile tax bill reaches $4,314, and the 90th percentile can be as high as $7,800. Homeowners in the 52336 zip code experience the highest median tax bill at $3,008. Understanding these factors helps homeowners anticipate their property tax obligations and budget accordingly.
Average Springville Tax Bill
$3,008
Average Linn County Tax Bill
$3,328
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Springville, Linn County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52336 | $1,389 | $2,200 | $3,008 | $4,314 | $7,800 |
Source: Ownwell