Stockport, Iowa Property Taxes
The median property tax rate in Stockport, IA is 1.05%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $80,380 in Stockport, the typical annual property tax bill amounts to $884, which is below the national median of $2,690. Property taxes in Stockport are calculated based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Stockport'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 Stockport or another part of Van Buren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stockport, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$844
Ownwell’s Stockport Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stockport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockport to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. 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 purposes, taking into account any applicable exemptions.
Property Tax Rates Across Stockport, Iowa
Property taxes in Stockport, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockport is 1.05%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Stockport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockport 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 Stockport's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52651 zip code has the highest median property tax rate of 1.05%, while the 52651 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Stockport provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stockport Tax Rate
1.05%
Average Van Buren County Tax Rate
1.04%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52651 | 0.84% | 0.94% | 1.05% | 1.16% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Stockport, Iowa
In Stockport, 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 Van Buren 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 Stockport, 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 Stockport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Stockport are both $884.00, with the 25th percentile tax bill at $468 and the 75th percentile at $1419.
Average Stockport Assessed Value
$80,380
Average Van Buren County Assessed Value
$93,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stockport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52651 | $21,164 | $47,710 | $80,380 | $138,630 | $202,738 |
Source: Ownwell
Property Tax Bills Across Stockport, Iowa
In Stockport, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, homeowners in Stockport experience a range of tax bills, with the 25th percentile paying around $468 and the 75th percentile facing bills up to $1,419. At the 90th percentile, tax bills can reach as high as $2,046. The median home price in Stockport is $80,380, which serves as a basis for these calculations. Compared to the national median property tax rate of 0.99%, Stockport's rates can significantly affect homeowners' financial planning. Factors such as property improvements, neighborhood developments, and changes in local tax rates can further influence these assessments. Understanding these elements helps homeowners anticipate their tax obligations and manage their budgets effectively.
Average Stockport Tax Bill
$884
Average Van Buren County Tax Bill
$987
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockport, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52651 | $243 | $468 | $884 | $1,419 | $2,046 |
Source: Ownwell