Akron, Plymouth County, Iowa Property Taxes
The median property tax rate in Akron, Iowa is 1.45%, which is higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With the median home value in Akron at $148,255, the typical annual property tax bill amounts to $2,112, which is below the national median of $2,690. Property taxes in Akron are determined based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Akron'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 Akron or another part of Plymouth County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Akron, Plymouth County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$2,150
$1,995
Ownwell’s Akron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Akron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Akron 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 Akron, Plymouth County, Iowa
Property taxes in Akron, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Akron is 1.45%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Akron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Akron 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 Akron's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51001 zip code has the highest median property tax rate of 1.45%, while the 51001 zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with Akron provides valuable insights into the varying tax landscape across Plymouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Akron Tax Rate
1.45%
Average Plymouth County Tax Rate
1.13%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Akron, Plymouth County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51001 | 1.07% | 1.22% | 1.45% | 1.56% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Akron, Plymouth County, Iowa
In Akron, 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 Plymouth 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 Akron, 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 Akron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Akron are both $2,112, found in the 51001 zip code.
Property Tax Assessment Values Across Akron, Plymouth County, Iowa
Source: Ownwell
$124,210
$242,833
$361,455
Average Akron Assessed Value
$148,255
Average Plymouth County Assessed Value
$198,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Akron, Plymouth County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51001 | $30,749 | $90,708 | $148,255 | $217,480 | $293,412 |
Source: Ownwell
Property Tax Bills Across Akron, Plymouth County, Iowa
In Akron, property tax bills are calculated using the assessed value of a home, which is determined by the Plymouth County assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, local tax rates, known as millage rates, are applied to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the home. For instance, the median home price in Akron is $148,255, and tax bills can vary significantly. Homeowners at the 25th percentile pay about $1,430, while those at the 75th percentile pay around $2,974. The 90th percentile tax bill can reach up to $4,012. These tax bills directly impact homeowners by affecting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, the property tax rates in Akron can present a varied financial burden depending on the specific assessed value of the property.
Average Akron Tax Bill
$2,112
Average Plymouth County Tax Bill
$2,246
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Akron, Plymouth County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51001 | $887 | $1,430 | $2,112 | $2,974 | $4,012 |
Source: Ownwell