Story County, Iowa Property Taxes
The median property tax rate in Story County is 1.36%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $219,000, the typical annual property tax bill in Story County is approximately $2,904, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the actual market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Story County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to significant annual savings. Whether you live in Ames or another part of Story County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Story County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$2,978
$2,764
Ownwell’s Story County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Story County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Story County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Story County, Iowa
Property taxes in Story County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Story County is 1.36%, which is higher than the U.S. national median of 0.99%. Local government entities within Story County set these rates annually, and they can vary significantly between different areas within the county. Each year, Story County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Story County's effective property tax rate with other counties in Iowa and the national median. For comparison, the city of Slater has one of the higher property tax rates in Iowa at 1.69%, while the city of New Providence boasts one of the lowest at 0.99%. Analyzing how Story County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Story County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Story County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ames | 1.09% | 1.20% | 1.31% | 1.50% | 1.68% |
| Cambridge | 1.08% | 1.23% | 1.53% | 1.62% | 1.71% |
| Collins | 1.00% | 1.16% | 1.50% | 1.66% | 1.71% |
| Colo | 0.93% | 1.04% | 1.56% | 1.65% | 1.75% |
| Gilbert | 1.10% | 1.38% | 1.53% | 1.57% | 1.62% |
| Hubbard | N/A | N/A | N/A | N/A | N/A |
| Huxley | 1.28% | 1.54% | 1.58% | 1.64% | 1.69% |
| Kelley | 1.06% | 1.12% | 1.41% | 1.56% | 1.62% |
| Maxwell | 1.02% | 1.13% | 1.48% | 1.60% | 1.69% |
| Mc Callsburg | 0.92% | 1.14% | 1.48% | 1.59% | 1.66% |
| Nevada | 1.02% | 1.29% | 1.50% | 1.58% | 1.66% |
| New Providence | N/A | N/A | N/A | N/A | N/A |
| Polk City | N/A | N/A | N/A | N/A | N/A |
| Radcliffe | N/A | N/A | N/A | N/A | N/A |
| Roland | 0.95% | 1.39% | 1.47% | 1.55% | 1.60% |
| Saint Anthony | N/A | N/A | N/A | N/A | N/A |
| Sheldahl | 1.08% | 1.23% | 1.34% | 1.42% | 1.46% |
| Slater | 1.35% | 1.63% | 1.69% | 1.75% | 1.80% |
| State Center | 0.90% | 0.91% | 1.03% | 1.11% | 1.26% |
| Story City | 0.99% | 1.22% | 1.32% | 1.37% | 1.42% |
| Zearing | 0.92% | 1.02% | 1.33% | 1.45% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Story County, Iowa
In Story County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Story County Appraisal District. The assessed value, however, 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 Story County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Story County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Story County, Polk City has the highest median tax bill at $27,652, while Sheldahl has the lowest at $1,982. The national median property tax rate is 0.99%, making it essential to understand local nuances to manage your property taxes efficiently.
Average Story County Assessed Value
$219,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Story County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ames | $94,300 | $133,700 | $222,100 | $338,600 | $461,630 |
| Cambridge | $90,950 | $145,475 | $202,350 | $316,525 | $499,990 |
| Collins | $75,200 | $107,700 | $164,800 | $236,525 | $322,470 |
| Colo | $96,020 | $134,600 | $185,600 | $272,025 | $384,630 |
| Gilbert | $149,500 | $201,100 | $264,100 | $366,700 | $456,270 |
| Hubbard | N/A | N/A | N/A | N/A | N/A |
| Huxley | $90,000 | $197,200 | $275,300 | $391,400 | $486,380 |
| Kelley | $124,260 | $172,000 | $242,900 | $391,800 | $516,780 |
| Maxwell | $87,100 | $136,800 | $194,000 | $327,100 | $420,950 |
| Mc Callsburg | $62,060 | $108,100 | $167,900 | $257,550 | $322,080 |
| Nevada | $104,160 | $149,950 | $196,200 | $282,950 | $408,000 |
| New Providence | N/A | N/A | N/A | N/A | N/A |
| Polk City | N/A | N/A | N/A | N/A | N/A |
| Radcliffe | N/A | N/A | N/A | N/A | N/A |
| Roland | $110,350 | $150,750 | $201,500 | $260,625 | $362,400 |
| Saint Anthony | N/A | N/A | N/A | N/A | N/A |
| Sheldahl | $65,680 | $103,300 | $152,200 | $215,700 | $286,800 |
| Slater | $132,410 | $181,425 | $222,850 | $296,300 | $388,470 |
| State Center | $151,720 | $191,850 | $265,100 | $307,150 | $388,640 |
| Story City | $103,130 | $163,575 | $220,650 | $323,650 | $438,810 |
| Zearing | $61,460 | $110,625 | $161,000 | $235,850 | $321,650 |
Source: Ownwell
Property Tax Bills Across Story County, Iowa
In Story County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the total tax bill. Various factors are considered in this assessment, including the property's market value, improvements, and comparable sales in the area. Homeowners in Story County can expect a range of tax bills. For instance, the 25th percentile tax bill is $2,044, while the 75th percentile reaches $4,204. At the higher end, the 90th percentile tax bill is $5,808. The city with the highest median tax bill in the county is Polk City at $27,652, whereas Sheldahl has the lowest median tax bill at $1,982. These property taxes significantly impact homeowners, as they represent a substantial annual expense. Compared to the national median property tax rate of 0.99%, Story County's tax rates can vary widely, influencing the overall cost of homeownership in the region.
Average Story County Tax Bill
$2,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Story County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ames | $1,340 | $2,006 | $2,838 | $4,202 | $5,832 |
| Cambridge | $1,380 | $2,265 | $2,950 | $3,983 | $6,058 |
| Collins | $1,104 | $1,547 | $2,280 | $2,921 | $3,912 |
| Colo | $1,352 | $1,938 | $2,698 | $3,398 | $4,418 |
| Gilbert | $1,827 | $2,762 | $3,725 | $4,923 | $6,260 |
| Hubbard | N/A | N/A | N/A | N/A | N/A |
| Huxley | $1,118 | $2,838 | $4,250 | $5,978 | $7,588 |
| Kelley | $1,785 | $2,486 | $3,385 | $4,532 | $5,784 |
| Maxwell | $1,275 | $1,990 | $2,764 | $3,872 | $5,195 |
| Mc Callsburg | $914 | $1,534 | $2,302 | $3,140 | $3,924 |
| Nevada | $1,518 | $2,222 | $2,872 | $3,801 | $5,067 |
| New Providence | N/A | N/A | N/A | N/A | N/A |
| Polk City | N/A | N/A | N/A | N/A | N/A |
| Radcliffe | N/A | N/A | N/A | N/A | N/A |
| Roland | $1,620 | $2,154 | $2,906 | $3,676 | $4,838 |
| Saint Anthony | N/A | N/A | N/A | N/A | N/A |
| Sheldahl | $684 | $1,172 | $1,982 | $2,750 | $3,666 |
| Slater | $2,027 | $3,004 | $3,718 | $4,856 | $6,334 |
| State Center | $1,666 | $1,898 | $2,470 | $3,136 | $3,684 |
| Story City | $1,367 | $2,117 | $2,837 | $3,800 | $5,178 |
| Zearing | $782 | $1,458 | $2,110 | $2,794 | $3,536 |
Source: Ownwell