Prairie City, Marion County, Iowa Property Taxes

Name: Property Tax Bills Across Prairie City, Marion County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Prairie City, IA effective property tax rate: 1.17%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Prairie City, IA home value: $205,085
Median annual Prairie City, IA tax bill: $2,493, $93 higher than the national median property tax bill of $2,400.

How are property taxes in Marion calculated?

Property taxes in Prairie City, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Prairie City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prairie City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Prairie City, Marion County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.17%

Estimate Property Tax Bill

$2,399

$2,227

Ownwell’s Prairie City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Prairie City with just two data points. By entering your property's estimated assessed value, our calculator applies Prairie City’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Marion County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Prairie City, Marion County, Iowa

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

In Prairie City in Marion County, IA, the effective property tax rate is 1.17%. This rate is above the national median property tax rate of 1.02%, indicating a slightly higher tax burden compared to the national average. However, within the state, Prairie City's tax rate may not be the highest or lowest, as rates can differ significantly across different regions.

By comparing Prairie City's effective property tax rate to other cities in Iowa and the median property tax rates in both Iowa and the U.S., property owners can gain valuable insights into their tax obligations and potential savings opportunities.

Property Tax Rates Across Prairie City, Marion County, Iowa

Source: Ownwell

0.92%

1.29%

1.67%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Prairie City Tax Rate

1.17%

Median Effective Marion County Tax Rate

1.40%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Prairie City, Marion County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50228	0.95%	1.08%	1.17%	1.23%	1.45%

Source: Ownwell

Property Tax Assessment Values Across Prairie City, Marion County, Iowa

When examining property taxes in Prairie City, IA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Marion County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Marion County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Prairie City.

For example, the median home price in Prairie City is $205,085, with tax bills ranging significantly across the county. Zip code 50228 has the highest median home price at $205,085.

Property Tax Assessment Values Across Prairie City, Marion County, Iowa

Source: Ownwell

$49,925

$161,023

$272,120

Median Prairie City Market Value

$205,085

Median Marion County Market Value

$185,955

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Prairie City, Marion County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50228	$59,180	$132,115	$205,085	$356,472	$402,485

Source: Ownwell

Property Tax Bills Across Prairie City, Marion County, Iowa

In Prairie City, located in Marion County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. Prairie City's property tax bills can vary significantly, with the 25th percentile at $1,783 and the 75th percentile reaching $3,021. Some homeowners may see bills as high as $4,480 at the 90th percentile. Compared to the national median property tax bill of $2,400, Prairie City's tax rates can be relatively moderate or quite high, depending on the specific property. Homeowners can potentially save on their property tax bills by working with Ownwell, which offers services such as property tax appeals and exemptions. By leveraging expert knowledge and local data, Ownwell helps homeowners ensure their property is fairly assessed, potentially reducing their tax obligations.

Property Tax Bills Across Prairie City, Marion County, Iowa

Source: Ownwell

$592

$2,153

$3,714

Median Prairie City Tax Bill

$2,493

Median Marion County Tax Bill

$2,660

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Prairie City, Marion County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50228	$748	$1,783	$2,493	$3,021	$4,480

Source: Ownwell