Prole, Iowa Property Taxes
The median property tax rate in PROLE, IA is 1.06%, 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 $315,000 in PROLE, the typical annual property tax bill reaches $3,492, surpassing the national median of $2,690. Property taxes in PROLE are based on the tax assessed value, which is often below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding PROLE'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 PROLE or another part of Warren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prole, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$3,339
Ownwell’s PROLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PROLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PROLE 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 Prole, Iowa
Property taxes in Prole, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prole is 1.06%, higher than the U.S. national median of 0.99%. Local government entities within Prole set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prole 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 Prole's effective property tax rate to other areas in Warren County and the national median. For comparison, the 50229 zip code has the highest median property tax rate of 1.06%, while the 50229 zip code also has the lowest median tax rate of 1.06%. Understanding how these areas compare with Prole provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prole Tax Rate
1.06%
Average Warren County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prole, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50229 | 0.97% | 1.02% | 1.06% | 1.12% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Prole, Iowa
In Prole, 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 Warren County Assessor's Office 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 Prole, 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 Prole helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Prole are both $3,492, found in the zip code 50229.
Average Prole Assessed Value
$315,000
Average Warren County Assessed Value
$233,350
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prole, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50229 | $85,600 | $220,900 | $315,000 | $422,300 | $580,700 |
Source: Ownwell
Property Tax Bills Across Prole, Iowa
In PROLE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors in Warren County. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions play a crucial role in this calculation. For homeowners in PROLE, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $2,601, while at the 75th percentile, it rises to $4,753. At the 90th percentile, homeowners might see a tax bill of $6,168. When compared to the national median property tax rate of 0.99%, these figures indicate a substantial variance within the area. The highest median tax bill in the region is recorded at $3,492 in the 50229 zip code, which also happens to be the lowest, showcasing a uniformity in tax assessments within that specific area. This variability in tax bills can significantly impact homeowners' annual expenses, making it essential for them to understand how these factors influence their property tax obligations.
Average Prole Tax Bill
$3,492
Average Warren County Tax Bill
$3,534
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Prole, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50229 | $1,412 | $2,601 | $3,492 | $4,753 | $6,168 |
Source: Ownwell