Palo, Linn County, Iowa Property Taxes
Median PALO, IA effective property tax rate: 1.83%, significantly higher than the national median of 1.02%, but lower than the IA state median of 1.54%.
Median PALO, IA home value: $228,950
Median annual PALO, IA tax bill: $3,852, $1,452 higher than the national median property tax bill of $2,400.
How are property taxes in Linn calculated?
Property taxes in PALO, 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 PALO’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in PALO, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Palo, Linn County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.83%
Estimate Property Tax Bill
$4,190
$3,888
Property Tax Rates Across Palo, Linn County, Iowa
Local government entities are responsible for setting property tax rates, which can vary significantly even within a single state. This variation occurs because each county, such as Linn County, annually determines its budgetary needs for public services and divides this by the total assessed value of all taxable property within its jurisdiction. This process results in the property tax rate. While votes and legal frameworks play a role in setting these rates and budgets, this is essentially how the annual process unfolds.
In Palo, located in Linn County, Iowa, the effective property tax rate is 1.83%. This rate aligns with the highest and lowest median tax rates in the state, both recorded in the 52324 zip code, highlighting a uniformity in tax rates within this specific area. Comparatively, Iowa's median tax rate is notably higher than the national median property tax rate of 1.02%. This means that homeowners in Palo may face higher property tax bills compared to the national median, which is $2,400. Understanding these rates can help property owners make informed decisions about potential tax appeals and 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 Palo Tax Rate
1.83%
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 Linn County Tax Rate
1.84%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Palo, Linn County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52324 | 1.35% | 1.47% | 1.83% | 1.88% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Palo, Linn County, Iowa
When examining property taxes in PALO, 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 Linn 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 Linn County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 PALO. For example, the median home price in PALO is $228,950, with tax bills ranging significantly across the county. 52324 has the highest median home price at $228,950.
Median Palo Market Value
$228,950
Median Linn County Market Value
$173,500
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Palo, Linn County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52324 | $105,980 | $166,300 | $228,950 | $291,775 | $398,960 |
Source: Ownwell
Property Tax Bills Across Palo, Linn County, Iowa
In Palo, located in Linn County, Iowa, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this area is $228,950. Homeowners in Palo see a range of property tax bills, with the 25th percentile at $2,898 and the 75th percentile at $5,234. The 90th percentile of tax bills can reach up to $6,630. All homes in the ZIP code 52324 experience a median tax bill of $3,852, which is notably higher than the national median property tax bill of $2,400. These figures reveal that property taxes in Palo can be a significant financial consideration for homeowners.
Ownwell assists homeowners in Palo by offering property tax appeal and exemption services, potentially leading to substantial savings. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying on their tax bills, providing peace of mind and financial relief in a region where property taxes can be relatively high.
Median Palo Tax Bill
$3,852
Median Linn County Tax Bill
$3,328
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Palo, Linn County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52324 | $1,800 | $2,898 | $3,852 | $5,234 | $6,630 |
Source: Ownwell