State Center, Marshall County, Iowa Property Taxes
The median property tax rate in State Center, IA is 1.22%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value in State Center, the typical annual property tax bill amounts to $2,154, slightly below the national median of $2,690. Property taxes in State Center are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding State Center'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 State Center or another part of Marshall County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
State Center, Marshall County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,189
$2,031
Ownwell’s State Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in State Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in State Center 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 State Center, Marshall County, Iowa
Property taxes in STATE CENTER, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in STATE CENTER is 1.22%, higher than both the Iowa state median of 1.50% and the U.S. national median of 0.99%. Local government entities within STATE CENTER set these rates annually, and they can vary significantly across different neighborhoods. Each year, STATE CENTER 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 STATE CENTER's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50247 zip code has the highest median property tax rate of 1.22%, while the 50247 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with STATE CENTER provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average State Center Tax Rate
1.22%
Average Marshall County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across State Center, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50247 | 0.88% | 1.03% | 1.22% | 1.36% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across State Center, Marshall County, Iowa
In State Center, 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 Marshall 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 State Center, 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 State Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50247 has the highest median tax bill at $2,154, which is crucial information for local homeowners.
Property Tax Assessment Values Across State Center, Marshall County, Iowa
Source: Ownwell
$31,865
$126,573
$221,280
Average State Center Assessed Value
$179,425
Average Marshall County Assessed Value
$128,210
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across State Center, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50247 | $77,296 | $122,682 | $179,425 | $264,818 | $372,381 |
Source: Ownwell
Property Tax Bills Across State Center, Marshall County, Iowa
Property tax bills in State Center, located in Marshall County, IA, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, condition, and market trends. For homeowners, understanding these factors is crucial as they directly impact the tax bill. In State Center, the median home price is $179,425, and homeowners can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,380, while at the 75th percentile, it reaches $3,112. At the 90th percentile, the tax bill can be as high as $4,486. These figures highlight the importance of accurate property assessments and the local tax rate in determining a homeowner's financial obligation.
Average State Center Tax Bill
$2,154
Average Marshall County Tax Bill
$1,909
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across State Center, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50247 | $874 | $1,380 | $2,154 | $3,112 | $4,486 |
Source: Ownwell