Lake Park, Dickinson County, Iowa Property Taxes
Median Lake Park, IA effective property tax rate: 1.08%, slightly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Lake Park, IA home value: $159,900
Median annual Lake Park, IA tax bill: $1,609, $791 lower than the national median property tax bill of $2,400.
How are property taxes in Dickinson calculated?
Property taxes in Lake Park, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lake Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Park, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Park, Dickinson County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.08%
Estimate Property Tax Bill
$1,727
$1,603
Property Tax Rates Across Lake Park, Dickinson County, Iowa
Tax rates are determined by local governments, leading to significant variations within a state. Each county estimates its budgetary needs annually to provide essential services and then divides this by the total assessed value of all taxable properties within its jurisdiction. This calculation establishes the property tax rate. Although votes and legislative measures influence these rates and budgets, this is the core process followed each year.
In Lake Park, located in Dickinson County, Iowa, the effective property tax rate stands at 1.08%. This rate is consistent with the highest and lowest median tax rates within the state, both recorded at 1.08% in the same area. When compared to the national median property tax rate of 1.02%, Lake Park's rate is slightly above the national average. This comparison highlights the variability in property tax rates across the country and underscores the importance of understanding local tax structures. By comparing Lake Park's tax rate to both state and national figures, property owners can better comprehend their tax obligations and explore potential savings through appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake Park Tax Rate
1.08%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Dickinson County Tax Rate
0.82%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Park, Dickinson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51347 | 0.69% | 0.89% | 1.08% | 1.16% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Lake Park, Dickinson County, Iowa
When examining property taxes in Lake Park, IA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Dickinson County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Dickinson County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lake Park. For example, the median home price in Lake Park is $159,900, with tax bills ranging significantly across the county. 51347 has the highest median home price at $159,900.
Property Tax Assessment Values Across Lake Park, Dickinson County, Iowa
Source: Ownwell
$23,300
$182,675
$342,050
Median Lake Park Market Value
$159,900
Median Dickinson County Market Value
$263,050
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Park, Dickinson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51347 | $58,410 | $96,800 | $159,900 | $279,925 | $479,940 |
Source: Ownwell
Property Tax Bills Across Lake Park, Dickinson County, Iowa
In Lake Park, Dickinson County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price here is $159,900, and the property tax bill can vary significantly. For instance, the 25th percentile tax bill is $1,047, while the 75th percentile reaches $2,696, and the 90th percentile hits $4,318. These figures indicate that property taxes in Lake Park can be higher than the national median tax bill of $2,400, impacting homeowners' financial planning.
Several factors contribute to the calculation of property tax bills, including the assessed value of the property and the local tax rate. Homeowners in Lake Park may find themselves paying more than the national median property tax rate of 1.02%, depending on these assessments. This is where Ownwell can make a difference. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially lower their tax bills, ensuring they only pay what is fair and accurate.
Median Lake Park Tax Bill
$1,609
Median Dickinson County Tax Bill
$2,470
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Park, Dickinson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51347 | $536 | $1,047 | $1,609 | $2,696 | $4,318 |
Source: Ownwell