Newell, Sac County, Iowa Property Taxes
The median property tax rate in Newell, IA is 0.95%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With the median home value in Newell at $173,430, the typical annual property tax bill is around $1,526, which is notably less than the national median of $2,690. Property taxes in Newell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Newell'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 Newell 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
Newell, Sac County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,648
$1,529
Ownwell’s Newell Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Newell using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newell to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends on a neighborhood level, scroll down to find localized information. Your property’s assessed value is the value assigned by Sac County for property tax calculations, considering any exemptions that may apply.
Property Tax Rates Across Newell, Sac County, Iowa
Property taxes in Newell, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newell is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Newell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newell 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 Newell's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50568 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Newell 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 Newell Tax Rate
0.95%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newell, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50568 | 0.86% | 0.88% | 0.95% | 1.10% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Newell, Sac County, Iowa
In Newell, 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 Newell, 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 Newell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50568, with a median tax bill of $1,526, which is notably higher than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Newell, Sac County, Iowa
Source: Ownwell
$73,140
$153,858
$234,575
Average Newell Assessed Value
$173,430
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 Newell, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50568 | $104,586 | $119,800 | $173,430 | $235,080 | $348,620 |
Source: Ownwell
Property Tax Bills Across Newell, Sac County, Iowa
In Newell, IA, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made. For homeowners in Newell, the property tax bill can vary significantly. The tax bill for the 25th percentile is around $1,220, while those in the 75th percentile can expect to pay approximately $2,342. At the higher end, the 90th percentile tax bill reaches about $3,818. This variability means that homeowners with higher-valued properties or those in more desirable locations might face steeper tax bills. Comparatively, the national median property tax rate is 0.99%, and Newell's rates reflect a range of financial responsibilities for its residents. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly.
Average Newell Tax Bill
$1,526
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Newell, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50568 | $1,114 | $1,220 | $1,526 | $2,342 | $3,818 |
Source: Ownwell