Neola, Pottawattamie County, Iowa Property Taxes
The median property tax rate in Neola, IA is 1.42%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Neola at $195,900, the typical annual property tax bill reaches $2,702, slightly below the national median of $2,690. Property taxes in Neola 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 Neola'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 Neola 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
Neola, Pottawattamie County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$2,782
$2,581
Ownwell’s Neola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neola 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 Neola, Pottawattamie County, Iowa
Property taxes in Neola, Iowa, play a crucial role in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Neola is 1.42%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Neola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neola 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 Neola's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51559 zip code has both the highest and lowest median property tax rate of 1.42%. Understanding how these cities compare with Neola provides valuable insights into the varying tax landscape across Pottawattamie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Neola Tax Rate
1.42%
Average Pottawattamie County Tax Rate
1.73%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neola, Pottawattamie County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51559 | 1.14% | 1.22% | 1.42% | 1.61% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Neola, Pottawattamie County, Iowa
In Neola, 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 Pottawattamie 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 Neola, 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 Neola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Neola is $2,702 in the 51559 zip code, while the lowest median tax bill is also $2,702 in the same zip code.
Property Tax Assessment Values Across Neola, Pottawattamie County, Iowa
Source: Ownwell
$114,500
$204,725
$294,950
Average Neola Assessed Value
$195,900
Average Pottawattamie County Assessed Value
$173,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Neola, Pottawattamie County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51559 | $100,840 | $143,550 | $195,900 | $269,200 | $366,740 |
Source: Ownwell
Property Tax Bills Across Neola, Pottawattamie County, Iowa
In Neola, located in Pottawattamie County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $195,900, homeowners can expect their property tax bills to vary significantly. The tax bill for the 25th percentile is around $1,992, while at the 75th percentile, it reaches approximately $3,616. For those in the 90th percentile, the tax bill can go up to $4,760. Several factors influence these bills, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Neola's tax rates reflect the local economic conditions and funding needs. These property taxes directly impact homeowners by influencing their monthly mortgage payments and overall cost of living, making it crucial for homeowners to understand how their tax bills are determined.
Average Neola Tax Bill
$2,702
Average Pottawattamie County Tax Bill
$2,932
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Neola, Pottawattamie County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51559 | $1,508 | $1,992 | $2,702 | $3,616 | $4,760 |
Source: Ownwell