Henderson, Iowa Property Taxes
The median property tax rate in Henderson, IA is 1.23%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Henderson at $108,407, the typical annual property tax bill amounts to $1,302, falling below the national median of $2,690. Property taxes in Henderson are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Henderson'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 Henderson 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
Henderson, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,333
Ownwell’s Henderson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Henderson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Henderson 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 Henderson, Iowa
Property taxes in Henderson, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Henderson is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Henderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henderson 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 Henderson's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51541 has both the highest and lowest median property tax rate of 1.23%. Understanding how these cities compare with Henderson provides valuable insights into the varying tax landscape across Mills County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henderson Tax Rate
1.23%
Average Mills County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henderson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51541 | 1.07% | 1.14% | 1.23% | 1.34% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Iowa
In Henderson, 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 Mills 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 Henderson, 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. The median home price in Henderson is $108,407, with tax bills ranging from $518 at the 25th percentile to $2,352 at the 75th percentile. The highest median tax bill in the area is $1,302 in the 51541 zip code, which is also the lowest median 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 Henderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henderson Assessed Value
$108,407
Average Mills County Assessed Value
$206,856
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henderson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51541 | $6,651 | $44,704 | $108,407 | $199,180 | $278,300 |
Source: Ownwell
Property Tax Bills Across Henderson, Iowa
Property tax bills in Henderson, Mills County, IA are determined by assessing the market value of a property and applying the local tax rate. The median home price in Henderson stands at $108,407. Homeowners can expect their property tax bills to vary widely depending on several factors, including the assessed value of their property and the specific tax rate applied by local authorities. In Henderson, the 25th percentile tax bill is $518, while the 75th percentile tax bill is $2,352, and the 90th percentile tax bill is $3,384. These figures illustrate the range of tax burdens homeowners might face, influenced by their property’s assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Henderson homeowners experience a diverse range of tax bills, reflecting the variability in property values and local tax policies. This range of property tax bills can significantly impact homeowners' finances, emphasizing the importance of understanding local tax assessments and potential appeals.
Average Henderson Tax Bill
$1,302
Average Mills County Tax Bill
$3,154
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Henderson, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51541 | $88 | $518 | $1,302 | $2,352 | $3,384 |
Source: Ownwell