Lawton, Iowa Property Taxes
The median property tax rate in Lawton, Iowa is 1.08%, 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 Lawton at $258,230, the typical annual property tax bill reaches $2,874, surpassing the national median of $2,690. Property taxes in Lawton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lawton’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 Lawton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lawton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,789
Ownwell’s Lawton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lawton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lawton 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 Lawton, Iowa
Property taxes in Lawton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawton is 1.08%, which is higher than the U.S. national median of 0.99%. Local government entities within Lawton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawton 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 Lawton's effective property tax rate to other regions in Iowa and the national median. For comparison, the 51030 zip code has both the highest and lowest median property tax rate of 1.08%. Understanding how these areas compare with Lawton provides valuable insights into the varying tax landscape across Woodbury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lawton Tax Rate
1.08%
Average Woodbury County Tax Rate
1.52%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51030 | 0.96% | 1.00% | 1.08% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Lawton, Iowa
In Lawton, 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 Woodbury 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 Lawton, 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 Lawton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 51030, with a median tax bill of $2874.00.
Average Lawton Assessed Value
$258,230
Average Woodbury County Assessed Value
$157,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51030 | $111,724 | $170,100 | $258,230 | $375,590 | $492,578 |
Source: Ownwell
Property Tax Bills Across Lawton, Iowa
Property tax bills in Lawton, located in Woodbury County, IA, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions play a significant role in determining the assessed value. For instance, in Lawton, homeowners experience a range of tax bills. At the 25th percentile, the tax bill is approximately $1,808, while at the 75th percentile, it rises to about $4,145. Those at the 90th percentile can expect to pay around $5,370. With a median home price of $258,230, these tax bills reflect the varying property values within the city. Compared to the national median property tax rate of 0.99%, Lawton's property tax rates can be seen as competitive, yet they significantly impact homeowners' annual expenses. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Lawton Tax Bill
$2,874
Average Woodbury County Tax Bill
$2,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51030 | $1,249 | $1,808 | $2,874 | $4,145 | $5,370 |
Source: Ownwell