Auburn, Iowa Property Taxes
The median property tax rate in Auburn, IA is 1.23%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Auburn at $98,800, the typical annual property tax bill reaches $1,248, exceeding the national median of $2,690. Property taxes in Auburn 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 Auburn'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 Auburn 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
Auburn, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,215
Ownwell’s Auburn Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Auburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Auburn 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 Auburn, Iowa
Property taxes in Auburn, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Auburn is 1.23%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Auburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Auburn 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 Auburn's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51433 zip code has the highest median property tax rate of 1.23%, while the 51433 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Auburn provides valuable insights into the varying tax landscape across Sac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Auburn Tax Rate
1.23%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Auburn, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51433 | 0.92% | 0.99% | 1.23% | 1.46% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Auburn, Iowa
In Auburn, 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 Sac 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 Auburn, 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 Auburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Auburn is $98,800, with the highest median tax bill in the 51433 zip code at $1,248.
Average Auburn Assessed Value
$98,800
Average Sac County Assessed Value
$117,660
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Auburn, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51433 | $23,383 | $55,478 | $98,800 | $188,482 | $302,432 |
Source: Ownwell
Property Tax Bills Across Auburn, Iowa
In Auburn, located in Sac County, IA, property tax bills are determined by evaluating the assessed value of a property and applying the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Key factors influencing this assessment include the property's location, size, age, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Auburn's property tax rate is influenced by local government budgets and the needs of public services such as schools, infrastructure, and emergency services. For instance, with a median home price of $98,800, homeowners can expect a tax bill ranging from $750 at the 25th percentile to $2,968 at the 90th percentile. These tax bills have a significant impact on homeowners, affecting their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Auburn's rates can vary, highlighting the importance of understanding local tax obligations.
Average Auburn Tax Bill
$1,248
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Auburn, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51433 | $340 | $750 | $1,248 | $2,044 | $2,968 |
Source: Ownwell