Leland, Iowa Property Taxes
The median property tax rate in Leland, IA is 1.35%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $111,934 in Leland, the typical annual property tax bill amounts to $1,552, which is below the national median of $2,690. Property taxes in Leland are calculated based on the assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Leland'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 Leland or another part of Winnebago County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leland, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,511
Ownwell’s Leland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leland 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 Leland, Iowa
Property taxes in Leland, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leland is 1.35%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Leland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leland 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 Leland's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50453 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Leland provides valuable insights into the varying tax landscape across Winnebago County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leland Tax Rate
1.35%
Average Winnebago County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50453 | 1.01% | 1.18% | 1.35% | 1.53% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Leland, Iowa
In Leland, 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 Winnebago County Appraisal District 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 Leland, 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. For instance, the highest median tax bill in Leland is $1,552 in the 50453 zip code, while the lowest is also $1,552 in the same zip code. 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 Leland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leland Assessed Value
$111,934
Average Winnebago County Assessed Value
$124,390
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50453 | $29,691 | $65,065 | $111,934 | $191,520 | $262,102 |
Source: Ownwell
Property Tax Bills Across Leland, Iowa
In Leland, 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 tax bill. The median home price in Leland stands at $111,934. Homeowners in the 25th percentile can expect to pay around $935 annually, while those in the 75th percentile may see bills as high as $2,436. For the top 10% of homeowners, tax bills can reach up to $3,456. These tax bills are influenced by various factors, including property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Leland's rates reflect the specific economic and policy conditions of Winnebago County. Homeowners need to budget for these taxes as they can significantly impact annual expenses, affecting overall affordability and long-term financial planning.
Average Leland Tax Bill
$1,552
Average Winnebago County Tax Bill
$1,770
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Leland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50453 | $413 | $935 | $1,552 | $2,436 | $3,456 |
Source: Ownwell