Johnston, Iowa Property Taxes
The median property tax rate in Johnston, IA is 1.55%, noticeably higher than both the national median of 0.99% and Iowa's state median of 1.54%. With a median home value of $343,600 in Johnston, the typical annual property tax bill reaches $5,370, surpassing the national median of $2,690. Property taxes in Johnston 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 Johnston'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 Johnston 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
Johnston, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$5,326
Ownwell’s Johnston Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Johnston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Johnston to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in deeper insights, more localized information on neighborhood trends is available below. Your property’s assessed value, determined by the Polk County, is used for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Johnston, Iowa
Property taxes in Johnston, Iowa, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Johnston is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within Johnston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Johnston 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 Johnston's effective property tax rate to other areas in Polk County and the national median. For comparison, the highest median property tax rate in Polk County is also 1.55%, found in the zip code 50131, which is the same as Johnston's. Understanding how these cities compare with Johnston 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 Johnston Tax Rate
1.55%
Average Polk County Tax Rate
1.69%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Johnston, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50131 | 1.48% | 1.51% | 1.55% | 1.61% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Johnston, Iowa
In Johnston, 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 Appraisal District 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 Johnston, 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 highest median tax bill in Johnston is $5,370 in the 50131 zip code, which is also the lowest. Being aware of these valuation processes in Johnston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Johnston Assessed Value
$343,600
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 Johnston, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50131 | $183,700 | $249,400 | $343,600 | $447,225 | $597,100 |
Source: Ownwell
Property Tax Bills Across Johnston, Iowa
In Johnston, 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 county assessor and is intended to reflect the market value of the property. Once the assessed value is established, the property tax rate, also known as the millage rate, is applied to calculate the tax bill. Several factors influence the assessed value, including the home's location, size, age, and condition. Homeowners in Johnston can expect property tax bills to vary significantly. For example, tax bills at the 25th percentile are around $4,002, while those at the 75th percentile reach approximately $7,046. The highest median tax bill in Johnston is $5,370. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how these taxes are calculated can help in financial planning and in making informed decisions about property investments.
Average Johnston Tax Bill
$5,370
Average Polk County Tax Bill
$3,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Johnston, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50131 | $3,146 | $4,002 | $5,370 | $7,046 | $9,424 |
Source: Ownwell