Stacyville, Mitchell County, Iowa Property Taxes
The median property tax rate in Stacyville, IA is 1.20%, slightly above the national median of 0.99% but below the Iowa state median of 1.54%. With the median home value in Stacyville at $115,660, the typical annual property tax bill amounts to $1,381, which is lower than the national median of $2,690. Property taxes in Stacyville are determined based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural land. Grasping the nuances of Stacyville's property tax system, exploring available exemptions, and identifying potential reductions can lead to notable annual savings. Whether you're in the heart of Stacyville or elsewhere in the city, understanding the local property tax framework is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Stacyville, Mitchell County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,388
$1,288
Ownwell’s Stacyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stacyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stacyville 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 Stacyville, Mitchell County, Iowa
Property taxes in Stacyville, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stacyville is 1.20%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Stacyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stacyville 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 Stacyville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50476 zip code has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Stacyville provides valuable insights into the varying tax landscape across Mitchell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stacyville Tax Rate
1.20%
Average Mitchell County Tax Rate
1.25%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stacyville, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50476 | 1.01% | 1.11% | 1.20% | 1.34% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Stacyville, Mitchell County, Iowa
In Stacyville, 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 Mitchell 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 Stacyville, 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 Stacyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Stacyville is $1381 in the 50476 zip code, while the lowest median tax bill is also $1381 in the same zip code.
Property Tax Assessment Values Across Stacyville, Mitchell County, Iowa
Source: Ownwell
$60,730
$195,478
$330,225
Average Stacyville Assessed Value
$115,660
Average Mitchell County Assessed Value
$146,070
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stacyville, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50476 | $36,396 | $72,610 | $115,660 | $181,372 | $274,382 |
Source: Ownwell
Property Tax Bills Across Stacyville, Mitchell County, Iowa
In Stacyville, located in Mitchell County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Stacyville is $115,660. Property tax rates in this region are applied to the assessed value to determine the annual tax bill. For homeowners, this means that the amount they owe in property taxes can vary significantly depending on their home's assessed value and the specific tax rate applied. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions. In Stacyville, the 25th percentile tax bill is $876, while the 75th percentile tax bill reaches $2,210, and the 90th percentile tax bill can be as high as $3,354. These figures illustrate the range of tax obligations homeowners might face, highlighting the importance of accurate property assessments and understanding local tax policies. Compared to the national median property tax rate of 0.99%, Stacyville's tax rates reflect local economic conditions and funding needs.
Average Stacyville Tax Bill
$1,381
Average Mitchell County Tax Bill
$1,776
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Stacyville, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50476 | $479 | $876 | $1,381 | $2,210 | $3,354 |
Source: Ownwell