Wall Lake, Sac County, Iowa Property Taxes
The median property tax rate in Wall Lake, IA is 1.09%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $110,160 in Wall Lake, the typical annual property tax bill amounts to $1,191, which is below the national median of $2,690. Property taxes in Wall Lake are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Wall Lake'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 Wall Lake or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wall Lake, Sac County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,201
$1,114
Ownwell’s Wall Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wall Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wall Lake 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 Wall Lake, Sac County, Iowa
Property taxes in Wall Lake, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Wall Lake is 1.09%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Wall Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wall Lake 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 Wall Lake's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51466 has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Wall Lake 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 Wall Lake Tax Rate
1.09%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wall Lake, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51466 | 0.92% | 1.01% | 1.09% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Wall Lake, Sac County, Iowa
In Wall Lake, 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 Wall Lake, 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 Wall Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Wall Lake, the highest and lowest median tax bills are both $1,191 in the 51466 zip code.
Property Tax Assessment Values Across Wall Lake, Sac County, Iowa
Source: Ownwell
$73,140
$153,858
$234,575
Average Wall Lake Assessed Value
$110,160
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 Wall Lake, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51466 | $11,108 | $57,475 | $110,160 | $198,790 | $315,176 |
Source: Ownwell
Property Tax Bills Across Wall Lake, Sac County, Iowa
In Wall Lake, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate set by various taxing authorities, including the county, city, and school districts. For instance, with a median home price of $110,160, homeowners can expect their property tax bill to vary significantly. The tax bill at the 25th percentile is $586, while at the 75th percentile, it rises to $2,192, and at the 90th percentile, it can reach as high as $3,309. These tax bills are influenced by several factors, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Wall Lake should be aware that their property tax rate may differ from the national median property tax rate of 0.99%. Understanding how these elements impact their tax bill can help homeowners better manage their finances and plan for future expenses.
Average Wall Lake Tax Bill
$1,191
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Wall Lake, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51466 | $129 | $586 | $1,191 | $2,192 | $3,309 |
Source: Ownwell