Lehigh, Iowa Property Taxes
The median property tax rate in Lehigh, IA is 1.16%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Lehigh at $64,475, the typical annual property tax bill is $849, significantly below the national median of $2,690. Property taxes in Lehigh are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lehigh'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 Lehigh or another part of Webster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lehigh, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$748
Ownwell’s Lehigh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lehigh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lehigh 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 Lehigh, Iowa
Property taxes in Lehigh, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lehigh is 1.16%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Lehigh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lehigh 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 Lehigh's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50557 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Lehigh provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lehigh Tax Rate
1.16%
Average Webster County Tax Rate
1.86%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lehigh, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50557 | 0.87% | 0.95% | 1.16% | 1.40% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Lehigh, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lehigh, 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 Webster 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 Lehigh, 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 Lehigh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Lehigh, the zip code 50557 has both the highest and lowest median tax bill at $849.
Average Lehigh Assessed Value
$64,475
Average Webster County Assessed Value
$94,900
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lehigh, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50557 | $2,900 | $22,342 | $64,475 | $131,448 | $226,629 |
Source: Ownwell
Property Tax Bills Across Lehigh, Iowa
In Lehigh, IA, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners in Lehigh, the median home price is $64,475, and the property tax rate is 0.99%, aligning with the national median. Homeowners typically see tax bills ranging from $338 at the 25th percentile to $2,426 at the 90th percentile, with the median tax bill being $849. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Understanding how these taxes are calculated helps homeowners anticipate their annual financial obligations and the benefits they receive from local services.
Average Lehigh Tax Bill
$849
Average Webster County Tax Bill
$1,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lehigh, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50557 | $114 | $338 | $849 | $1,571 | $2,426 |
Source: Ownwell