Huxley, Iowa Property Taxes
The median property tax rate in Huxley, IA is 1.58%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Huxley at $275,300, the typical annual property tax bill reaches $4,250, exceeding the national median of $2,690. Property taxes in Huxley 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 Huxley'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 Huxley 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
Huxley, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$4,350
Ownwell’s Huxley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huxley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huxley 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 Huxley, Iowa
Property taxes in Huxley, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huxley is 1.58%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Huxley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huxley 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 Huxley's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50124 zip code has the highest median property tax rate of 1.58%, while the 50124 zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Huxley provides valuable insights into the varying tax landscape across Story County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huxley Tax Rate
1.58%
Average Story County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huxley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50124 | 1.28% | 1.54% | 1.58% | 1.64% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Huxley, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Huxley, 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 Story 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 Huxley, 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. The median home price in Huxley is $275,300, with tax bills ranging from $2,838 at the 25th percentile to $7,588 at the 90th percentile. The zip code 50124 has both the highest and lowest median tax bill at $4,250. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Huxley Assessed Value
$275,300
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 Huxley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50124 | $90,000 | $197,200 | $275,300 | $391,400 | $486,380 |
Source: Ownwell
Property Tax Bills Across Huxley, Iowa
In Huxley, located in Story County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Huxley face a median home price of $275,300, and their tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $2,838, while at the 75th percentile, it rises to $5,978. At the 90th percentile, homeowners can expect to pay up to $7,588. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Huxley's rates can lead to higher or lower tax burdens depending on individual property values and local tax policies. This variability significantly impacts homeowners, affecting their annual expenses and overall financial planning.
Average Huxley Tax Bill
$4,250
Average Story County Tax Bill
$2,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Huxley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50124 | $1,118 | $2,838 | $4,250 | $5,978 | $7,588 |
Source: Ownwell