Le Mars, Iowa Property Taxes
The median property tax rate in Le Mars, IA is 0.93%, slightly lower than the national median of 0.99% but significantly below the Iowa state median of 1.54%. With the median home value in Le Mars at $296,500, the typical annual property tax bill reaches $2,997, surpassing the national median of $2,690. Property taxes in Le Mars 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 Le Mars'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 Le Mars or another part of Sioux County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Le Mars, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$2,757
Ownwell’s Le Mars Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Le Mars with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Le Mars 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 Le Mars, Iowa
Property taxes in Le Mars, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Le Mars is 1.35%, higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Le Mars set these rates annually, and they can vary significantly across different neighborhoods. Each year, Le Mars 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 Le Mars' effective property tax rate to other counties in Iowa and the national median. For comparison, the 51031 zip code has the highest median property tax rate of 1.35%, while the 51031 zip code has the lowest median tax rate of 1.35%. Understanding how these cities compare with Le Mars provides valuable insights into the varying tax landscape across Sioux County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Le Mars Tax Rate
0.93%
Average Sioux County Tax Rate
1.40%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Le Mars, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51031 | 0.86% | 0.89% | 0.93% | 1.02% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Le Mars, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Le Mars, 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 Sioux 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. Assessment notices in Le Mars 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Le Mars, the highest and lowest median tax bills are both $2,997, found in the 51031 zip code. The median home price in the area is $296,500, with tax bills ranging from $1,916 at the 25th percentile to $3,662 at the 75th percentile, and $3,698 at the 90th percentile.
Average Le Mars Assessed Value
$296,500
Average Sioux County Assessed Value
$218,070
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Le Mars, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51031 | $175,709 | $225,685 | $296,500 | $383,478 | $394,442 |
Source: Ownwell
Property Tax Bills Across Le Mars, Iowa
In Le Mars, located in Sioux County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Le Mars is $296,500, and property taxes are influenced by this valuation. The tax rate in the area is applied to the assessed value to determine the annual tax bill. Factors such as local government budgets, school district funding, and public service needs play a role in setting these rates. Homeowners in Le Mars can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $1,916, while the 75th percentile tax bill is approximately $3,662. At the higher end, the 90th percentile tax bill reaches $3,698. Notably, the median tax bill in the area is $2,997, which is above the national median property tax rate of 0.99%. This means homeowners in Le Mars may pay more in property taxes compared to the national average, impacting their overall housing costs.
Average Le Mars Tax Bill
$2,997
Average Sioux County Tax Bill
$2,736
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Le Mars, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51031 | $1,607 | $1,916 | $2,997 | $3,662 | $3,698 |
Source: Ownwell