Lacey, Mahaska County, Iowa Property Taxes

Name: Property Tax Bills Across Lacey, Mahaska County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lacey, IA effective property tax rate: 1.15%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Lacey, IA home value: $29,530
Median annual Lacey, IA tax bill: $340, $2,060 lower than the national median property tax bill of $2,400.

How are property taxes in Mahaska calculated?

Property taxes in Lacey, 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 Lacey’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lacey, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lacey, Mahaska County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.15%

Estimate Property Tax Bill

$340

$315

Ownwell’s Lacey Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lacey with just two data points. By entering your property's estimated assessed value, our calculator applies Lacey’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Mahaska County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lacey, Mahaska County, Iowa

Local government entities in Lacey, Mahaska County, IA, set property tax rates, which can vary significantly across the state. Each year, Mahaska County estimates its budget requirements to fund essential services and divides this by the total assessed value of all taxable properties in the area. This calculation determines the property tax rate. While setting tax rates and budgets involves votes and legislative processes, this is essentially how it works annually. Lacey's effective property tax rate provides an interesting comparison to other cities in Iowa as well as the state and national medians. Iowa's median property tax rate is 1.15%, which is higher than the national median of 1.02%. This means that property owners in Lacey may pay more in property taxes compared to many other regions in the U.S. Understanding these differences can help property owners make informed decisions about appealing their property tax assessments and seeking exemptions.

Property Tax Rates Across Lacey, Mahaska County, Iowa

Source: Ownwell

1.04%

1.38%

1.72%

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 Lacey Tax Rate

1.15%

Median Effective Mahaska County Tax Rate

1.54%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lacey, Mahaska County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50207	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lacey, Mahaska County, Iowa

When examining property taxes in Lacey, Iowa, 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 Mahaska 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 Mahaska 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 Lacey. For example, the median home price in Lacey is $29,530, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Lacey, Mahaska County, Iowa

Source: Ownwell

$45,450

$141,200

$236,950

Median Lacey Market Value

$29,530

Median Mahaska County Market Value

$125,860

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lacey, Mahaska County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50207	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lacey, Mahaska County, Iowa

In Lacey, Mahaska County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and reflects the property's market value. Homeowners in Lacey face a property tax bill that can significantly impact their finances, with the tax bills at the 25th, 75th, and 90th percentiles all being $340. This is notably lower than the national median property tax bill of $2400.

Several factors influence the tax bill, including the property's assessed value and the local tax rate. Despite the relatively low tax bills in Lacey, ensuring that your property is assessed accurately can prevent overpayment.

Ownwell can assist homeowners by reviewing their property assessments and identifying potential errors or overvaluations. By appealing inaccurate assessments, homeowners can potentially lower their tax bills. With expert guidance and support, Ownwell helps homeowners navigate the complexities of property taxes, ensuring they only pay their fair share and potentially saving them money.

Property Tax Bills Across Lacey, Mahaska County, Iowa

Source: Ownwell

$476

$1,651

$2,825

Median Lacey Tax Bill

$340

Median Mahaska County Tax Bill

$1,886

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Lacey, Mahaska County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50207	N/A	N/A	N/A	N/A	N/A

Source: Ownwell