Shambaugh, Iowa Property Taxes
The median property tax rate in Shambaugh, IA, is 1.49%, which is notably higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With the median home value in Shambaugh at $49,520, the typical annual property tax bill amounts to $682, which is significantly lower than the national median of $2,690. Property taxes in Shambaugh are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shambaugh'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 Shambaugh 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
Shambaugh, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$738
Ownwell’s Shambaugh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shambaugh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shambaugh 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 Shambaugh, Iowa
Property taxes in Shambaugh, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shambaugh is 1.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Shambaugh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shambaugh 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 Shambaugh's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 51651 has both the highest and lowest median property tax rate of 1.49%. Understanding how these areas compare with Shambaugh provides valuable insights into the varying tax landscape across Page County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shambaugh Tax Rate
1.49%
Average Page County Tax Rate
1.56%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shambaugh, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51651 | 1.13% | 1.32% | 1.49% | 1.53% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Shambaugh, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Shambaugh, 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 Page 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 Shambaugh, 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 Shambaugh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Shambaugh is $682 in the 51651 zip code, while the lowest median tax bill is also $682 in the same zip code.
Average Shambaugh Assessed Value
$49,520
Average Page County Assessed Value
$100,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shambaugh, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51651 | $4,820 | $21,400 | $49,520 | $86,890 | $121,194 |
Source: Ownwell
Property Tax Bills Across Shambaugh, Iowa
Property tax bills in Shambaugh, located in Page County, IA, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Shambaugh is $49,520, and property tax rates can vary, but they are generally influenced by the funding needs of local services such as schools, infrastructure, and emergency services. Homeowners in Shambaugh can expect their property tax bills to fall within a range, with the 25th percentile tax bill being approximately $250 and the 75th percentile reaching up to $1,274. At the higher end, the 90th percentile tax bill can be as much as $1,665. These figures highlight the variability in property tax bills, which can significantly impact homeowners' financial planning. The property tax rate in Shambaugh can be compared to the national median property tax rate of 0.99%, providing a perspective on how local taxes align with broader trends.
Average Shambaugh Tax Bill
$682
Average Page County Tax Bill
$1,497
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Shambaugh, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51651 | $85 | $250 | $682 | $1,274 | $1,665 |
Source: Ownwell