Sac City, Sac County, Iowa Property Taxes
The median property tax rate in Sac City, IA is 1.47%, which is higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With the median home value in Sac City at $109,250, the typical annual property tax bill amounts to $1,472, which is lower than the national median of $2,690. Property taxes in Sac City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Sac City'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 Sac City 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
Sac City, Sac County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,606
$1,490
Ownwell’s Sac City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sac City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sac City 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 Sac City, Sac County, Iowa
Property taxes in Sac City, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sac City is 1.47%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Sac City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sac City 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 Sac City's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50583 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Sac City 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 Sac City Tax Rate
1.47%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sac City, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50583 | 0.93% | 1.15% | 1.47% | 1.61% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Sac City, Sac County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sac City, Iowa. 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 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 Sac City, 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 Sac City is $109,250, with tax bills ranging from $764 at the 25th percentile to $2,346 at the 75th percentile, and $3,396 at the 90th percentile. The highest and lowest median tax bills are both $1,472 in the 50583 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for appealing assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Sac City, Sac County, Iowa
Source: Ownwell
$73,140
$153,858
$234,575
Average Sac City Assessed Value
$109,250
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 Sac City, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50583 | $23,138 | $54,890 | $109,250 | $177,930 | $261,854 |
Source: Ownwell
Property Tax Bills Across Sac City, Sac County, Iowa
In Sac City, IA, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to arrive at the tax bill. Homeowners in Sac City experience a range of property tax bills, influenced by the value of their homes and the local tax rate. For instance, the median home price in Sac City is $109,250. Property tax bills can vary significantly, with the 25th percentile tax bill at $764, the 75th percentile at $2,346, and the 90th percentile reaching up to $3,396. These variations reflect the differences in property values and how they are assessed. The median property tax rate for Sac City stands at 1.35%, which is higher than the national median of 0.99%. This higher rate can lead to a more substantial financial impact on homeowners, especially those with properties assessed at higher values. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Sac City Tax Bill
$1,472
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Sac City, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50583 | $298 | $764 | $1,472 | $2,346 | $3,396 |
Source: Ownwell