Villisca, Taylor County, Iowa Property Taxes
The median property tax rate in Villisca, IA is 1.12%, 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 $172,510 in Villisca, the typical annual property tax bill is approximately $1,888, significantly below the national median of $2,690. Property taxes in Villisca are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Villisca's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in the heart of Villisca or another part of the city, a thorough understanding of the local property tax system is essential for financial optimization.
Last Updated June 14, 2024
Villisca, Taylor County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,932
$1,793
Ownwell’s Villisca Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Villisca with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Villisca to provide an estimated property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Villisca, Taylor County, Iowa
Property taxes in Villisca, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villisca is 1.12%, significantly higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Villisca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villisca 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 Villisca's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50864 zip code has both the highest and lowest median property tax rate of 1.12%. Understanding how these cities compare with Villisca provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Villisca Tax Rate
1.12%
Average Taylor County Tax Rate
1.27%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Villisca, Taylor County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | 0.93% | 1.02% | 1.12% | 1.20% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Villisca, Taylor County, Iowa
In Villisca, 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 Taylor 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 Villisca, 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 Villisca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1888.00, found in zip code 50864.
Property Tax Assessment Values Across Villisca, Taylor County, Iowa
Source: Ownwell
$25,575
$99,043
$172,510
Average Villisca Assessed Value
$172,510
Average Taylor County Assessed Value
$80,810
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Villisca, Taylor County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | $46,790 | $115,940 | $172,510 | $210,050 | $306,522 |
Source: Ownwell
Property Tax Bills Across Villisca, Taylor County, Iowa
In Villisca, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. For homeowners, this assessed value is a crucial factor, as it influences the final tax bill. The median home price in Villisca is $172,510, and property tax rates are applied to this value to determine the amount owed. The tax bill can vary significantly, with the 25th percentile at $1,409 and the 75th percentile at $2,375, reflecting differences in home values and specific local tax rates. At the 90th percentile, the tax bill can reach up to $3,356. These variations highlight the impact of property assessments and local tax policies on homeowners' financial obligations. Comparatively, the highest and lowest median tax bills in the area are both $1,888, indicating a certain level of consistency within the zip code 50864. Understanding these factors helps homeowners anticipate their annual property tax expenses and manage their budgets accordingly.
Average Villisca Tax Bill
$1,888
Average Taylor County Tax Bill
$1,036
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Villisca, Taylor County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | $553 | $1,409 | $1,888 | $2,375 | $3,356 |
Source: Ownwell