Bondurant, Polk County, Iowa Property Taxes
The median property tax rate in Bondurant, IA is 1.70%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Bondurant, the typical annual property tax bill reaches $4,734, exceeding the national median of $2,690. Property taxes in Bondurant 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 Bondurant'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 Bondurant 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
Bondurant, Polk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$4,905
$4,551
Ownwell’s Bondurant Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in Bondurant with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bondurant to project your property tax bill. This valuable tool offers a clear understanding of potential tax obligations. For those interested in more detailed insights at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Polk County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Bondurant, Polk County, Iowa
Property taxes in Bondurant, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bondurant is 1.70%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Bondurant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bondurant 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 Bondurant's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50035 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Bondurant 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 Bondurant Tax Rate
1.70%
Average Polk County Tax Rate
1.69%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bondurant, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50035 | 1.08% | 1.40% | 1.70% | 1.75% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Bondurant, Polk County, Iowa
In Bondurant, 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 Bondurant, 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. The median home price in Bondurant is $288,500, with tax bills ranging from $3,347 at the 25th percentile to $6,961 at the 90th percentile. The zip code 50035 has the highest median tax bill at $4,734. Being aware of these valuation processes in Bondurant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bondurant, Polk County, Iowa
Source: Ownwell
$2,050
$223,775
$445,500
Average Bondurant Assessed Value
$288,500
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 Bondurant, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50035 | $142,400 | $220,200 | $288,500 | $355,200 | $445,108 |
Source: Ownwell
Property Tax Bills Across Bondurant, Polk County, Iowa
In Bondurant, located in Polk County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is meant to reflect the property's market value. Once the property is assessed, a tax rate is applied to calculate the annual tax bill. The median home price in Bondurant is $288,500, and property tax bills can vary significantly within the area. Homeowners in the 25th percentile can expect a tax bill around $3,347, while those in the 75th percentile face bills closer to $5,736. At the 90th percentile, tax bills can reach up to $6,961. The highest and lowest median tax bills in the 50035 zip code are both $4,734, indicating a relatively narrow range of tax burdens in the area. Compared to the national median property tax rate of 0.99%, Bondurant's property tax rates can represent a significant expense for homeowners, impacting their overall cost of living and financial planning.
Average Bondurant Tax Bill
$4,734
Average Polk County Tax Bill
$3,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Bondurant, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50035 | $2,491 | $3,347 | $4,734 | $5,736 | $6,961 |
Source: Ownwell