Huxley, Polk County, Iowa Property Taxes
The median property tax rate in Huxley, IA is 1.56%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Huxley at $274,400, the typical annual property tax bill reaches $4,491, exceeding the national median of $2,690. Property taxes in Huxley 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 Huxley’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 Huxley 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
Huxley, Polk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$4,281
$3,972
Ownwell’s Huxley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huxley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huxley 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 Huxley, Polk County, Iowa
Property taxes in Huxley, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huxley is 1.56%, significantly higher than the U.S. national median of 0.99%. Local government entities within Huxley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huxley 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 Huxley's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50124 area has the highest median property tax rate of 1.56%, while the same area also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Huxley 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 Huxley Tax Rate
1.56%
Average Polk County Tax Rate
1.69%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huxley, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50124 | 1.51% | 1.53% | 1.56% | 1.71% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Huxley, Polk County, Iowa
In Huxley, 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 Huxley, 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. The median home price in Huxley is $274,400, with tax bills ranging from $4,002 at the 25th percentile to $8,245 at the 90th percentile. 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 Huxley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Huxley, Polk County, Iowa
Source: Ownwell
$2,050
$223,775
$445,500
Average Huxley Assessed Value
$274,400
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 Huxley, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50124 | $136,325 | $220,685 | $274,400 | $359,920 | $528,770 |
Source: Ownwell
Property Tax Bills Across Huxley, Polk County, Iowa
In Huxley, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate set by the county. For example, the median home price in Huxley is $274,400, and the property tax rate in Polk County is used to calculate the tax bill. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value. The tax bill can vary significantly, with the 25th percentile tax bill at $4,002 and the 75th percentile at $5,498, while the 90th percentile reaches $8,245. Comparatively, the national median property tax rate is 0.99%, highlighting the importance of understanding local rates. Homeowners in Huxley must budget for these taxes, which can impact their overall financial planning and property affordability.
Average Huxley Tax Bill
$4,491
Average Polk County Tax Bill
$3,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Huxley, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50124 | $2,346 | $4,002 | $4,491 | $5,498 | $8,245 |
Source: Ownwell