Ankeny, Polk County, Iowa Property Taxes
The median property tax rate in Ankeny, IA is 1.64%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Ankeny at $298,700, the typical annual property tax bill reaches $4,938, exceeding the national median of $2,690. Property taxes in Ankeny are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ankeny'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 Ankeny 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
Ankeny, Polk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$4,899
$4,546
Ownwell’s Ankeny Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ankeny with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ankeny 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 Ankeny, Polk County, Iowa
Property taxes in Ankeny, Iowa, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ankeny is 1.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ankeny set these rates annually, and they can vary across different neighborhoods. Each year, Ankeny 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 Ankeny's effective property tax rate to other areas in Polk County and the national median. For comparison, the 50021 zip code has the highest median property tax rate of 1.65%, while the 50023 zip code has the lowest median tax rate of 1.64%. Understanding how these areas compare with Ankeny provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ankeny Tax Rate
1.64%
Average Polk County Tax Rate
1.69%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ankeny, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50021 | 1.53% | 1.60% | 1.65% | 1.69% | 1.75% |
| 50023 | 1.44% | 1.59% | 1.64% | 1.68% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Ankeny, Polk County, Iowa
In Ankeny, 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 Polk 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 Ankeny, 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 Ankeny helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Ankeny is $5,110 in zip code 50023, while the lowest median tax bill is $4,654 in zip code 50021. Understanding these figures can help homeowners in different areas of Ankeny plan and budget accordingly.
Property Tax Assessment Values Across Ankeny, Polk County, Iowa
Source: Ownwell
$2,050
$223,775
$445,500
Average Ankeny Assessed Value
$298,700
Average Polk County Assessed Value
$231,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ankeny, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50021 | $126,600 | $197,625 | $278,900 | $377,300 | $488,420 |
| 50023 | $153,000 | $234,500 | $314,000 | $395,700 | $492,700 |
Source: Ownwell
Property Tax Bills Across Ankeny, Polk County, Iowa
In Ankeny, property tax bills are determined by assessing the value of a home and applying the local tax rate to that assessed value. The median home price in Ankeny is $298,700, and property taxes are calculated based on this valuation. The tax bill can vary significantly, with the 25th percentile at $3,750 and the 75th percentile reaching $6,416. For higher-valued properties, the tax bill can climb to the 90th percentile, which is $8,010. Factors such as the home's location within Polk County, any applicable exemptions, and improvements made to the property also play a role in determining the final tax bill. The highest median tax bill in the area is $5,110 in the 50023 zip code, while the lowest is $4,654 in the 50021 zip code. These property taxes directly impact homeowners by influencing their overall housing costs, making it crucial for them to understand how their tax bills are calculated and what factors might affect them.
Average Ankeny Tax Bill
$4,938
Average Polk County Tax Bill
$3,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Ankeny, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50021 | $2,450 | $3,566 | $4,654 | $6,268 | $8,024 |
| 50023 | $2,800 | $3,892 | $5,110 | $6,485 | $7,996 |
Source: Ownwell