Pomeroy, Iowa Property Taxes
The median property tax rate in Pomeroy, IA is 0.87%, which is notably lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $156,398 in Pomeroy, the typical annual property tax bill amounts to $1,280, well below the national median of $2,690. Property taxes in Pomeroy are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Pomeroy'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 Pomeroy 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
Pomeroy, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,361
Ownwell’s Pomeroy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pomeroy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pomeroy 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 Pomeroy, Iowa
Property taxes in Pomeroy, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pomeroy is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Pomeroy set these rates annually, and they can vary across different neighborhoods. Each year, Pomeroy 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 Pomeroy's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50575 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Pomeroy provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pomeroy Tax Rate
0.87%
Average Pocahontas County Tax Rate
1.38%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pomeroy, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50575 | 0.70% | 0.78% | 0.87% | 0.97% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Pomeroy, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pomeroy, IA. 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 Pocahontas 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. 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 Pomeroy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pomeroy is $156,398, with tax bills ranging from the 25th percentile at $894 to the 75th percentile at $1,891. The highest and lowest median tax bill is $1,280 in zip code 50575.
Average Pomeroy Assessed Value
$156,398
Average Pocahontas County Assessed Value
$72,338
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pomeroy, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50575 | $59,118 | $98,952 | $156,398 | $192,898 | $273,717 |
Source: Ownwell
Property Tax Bills Across Pomeroy, Iowa
In Pomeroy, located in Pocahontas County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For example, the median home price in Pomeroy is $156,398, and property tax bills vary significantly. The 25th percentile tax bill is $894, while the 75th percentile reaches $1,891, and the 90th percentile can be as high as $2,505. Compared to the national median property tax rate of 0.99%, Pomeroy's rates are competitive. Homeowners in Pomeroy benefit from a relatively predictable tax environment, which helps in budgeting and financial planning. This stability can make homeownership more attractive and affordable in the long run.
Average Pomeroy Tax Bill
$1,280
Average Pocahontas County Tax Bill
$919
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Pomeroy, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50575 | $447 | $894 | $1,280 | $1,891 | $2,505 |
Source: Ownwell