Ames, Story County, Iowa Property Taxes

Name: Property Tax Bills Across Ames, Story County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Ames, IA effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Ames, IA home value: $222,100
Median annual Ames, IA tax bill: $2838, $438 higher than the national median property tax bill of $2,400.

How are property taxes in Story County calculated?

Property taxes in Ames, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Ames’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ames, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Ames, Story County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.31%

Estimate Property Tax Bill

$2,910

$2,700

Ownwell’s Ames Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ames with just two data points. By entering your property's estimated assessed value, our calculator applies Ames’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Story County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Ames, Story County, Iowa

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county's annual process of estimating the required budget to provide essential services and dividing it by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Ames, located in Story County, the effective property tax rate reflects this process. When compared to other cities in Iowa, Ames has a competitive tax rate. The median property tax rate in Iowa is 1.31%, which is higher than the national median of 1.02%. Within Ames, the highest median tax rate is found in the 50014 zip code at 1.37%, while the lowest is in the 50010 zip code at 1.29%. These figures highlight the variations even within a single city, illustrating how local government decisions impact property owners differently depending on their location.

Property Tax Rates Across Ames, Story County, Iowa

Source: Ownwell

1.03%

1.36%

1.69%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Ames Tax Rate

1.31%

Median Effective Story County Tax Rate

1.36%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Ames, Story County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50010	1.08%	1.18%	1.29%	1.42%	1.65%
50014	1.11%	1.22%	1.37%	1.56%	1.69%
50011	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Ames, Story County, Iowa

When examining property taxes in Ames, IA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Story County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Story County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Ames. For example, the median home price in Ames is $222,100, with tax bills ranging significantly across the county. Zip code 50010 has the highest median home price at $232,600.

Property Tax Assessment Values Across Ames, Story County, Iowa

Source: Ownwell

$152,200

$213,750

$275,300

Median Ames Market Value

$222,100

Median Story County Market Value

$219,000

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Ames, Story County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50010	$100,440	$155,400	$232,600	$333,400	$449,920
50014	$84,700	$119,000	$207,250	$347,200	$470,500
50011	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Ames, Story County, Iowa

In Ames, Story County, IA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is based on the market value, which is influenced by factors such as location, property size, and improvements. Homeowners in Ames face property tax bills that can vary significantly. The median home price is $222,100, with tax bills ranging from $2,006 at the 25th percentile to $5,832 at the 90th percentile. Compared to the national median property tax bill of $2,400, Ames residents experience a diverse range of tax liabilities, with the highest median tax bill in zip code 50010 reaching $2,886. Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By analyzing property data and market trends, Ownwell can identify potential savings and help homeowners appeal their assessments, potentially lowering their tax bills. This support ensures that homeowners pay only their fair share, alleviating the financial burden of property taxes.

Property Tax Bills Across Ames, Story County, Iowa

Source: Ownwell

$1,982

$3,116

$4,250

Median Ames Tax Bill

$2,838

Median Story County Tax Bill

$2,904

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Ames, Story County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50010	$1,498	$2,142	$2,886	$4,124	$5,752
50014	$1,288	$1,792	$2,780	$4,314	$5,904
50011	N/A	N/A	N/A	N/A	N/A

Source: Ownwell