Peterson, O'brien County, Iowa Property Taxes
Property Taxes in Peterson, Iowa
Median Peterson, Iowa effective property tax rate: 1.04%, significantly lower than the national median of 1.02%, and lower than the Iowa state median of 1.55%.
Median Peterson, Iowa home value: $104,855
Median annual Peterson, Iowa tax bill: $1,289, lower than the national median property tax bill of $2,400.
How are property taxes in O'Brien calculated?
Property taxes in Peterson, Iowa 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 Peterson's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Peterson, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Peterson, O'brien County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.04%
Estimate Property Tax Bill
$1,090
$1,012
How Does the Peterson Property Tax Calculator Work?
Use this Peterson property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Peterson's median effective tax rate of 1.04% — based on actual property records in O'Brien County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Peterson's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Peterson: rates range from 1.04% in 51047 to 1.04% in 51047, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Peterson.
About Peterson Property Taxes
About Property Taxes in Peterson, O'Brien, Iowa
Peterson’s median effective property tax rate of 1.04% is lower than the Iowa state median of 1.55% and higher than the national median of 1.02%. This rate reflects the O'Brien County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Peterson. Homeowners in the 51047 ZIP code carry a median effective rate of 1.04%, and the same ZIP also has the city’s median tax bill of $1,289. This reflects how school district boundaries and local assessment districts are drawn across O'Brien County. Understanding which part of Peterson you live in can make a meaningful difference to your annual tax bill.
Peterson homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the April 30, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Peterson, O'brien County, Iowa
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Peterson's effective property tax rate to other cities in Iowa and the median property tax rates in Iowa and the U.S.
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 Peterson Tax Rate
1.04%
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 O'brien County Tax Rate
1.37%
Median Effective Iowa Tax Rate
1.55%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Peterson, O'brien County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51047 | 0.94% | 0.95% | 1.04% | 1.39% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Peterson, O'brien County, Iowa
When examining property taxes in Peterson, 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 O'Brien County appraisal district 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.
Assessment notices:
In O'Brien County, assessment notices are sent in April 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 Peterson.
For example, the median home price in Peterson is $104,855, with tax bills ranging significantly across the county. 51047 has the highest median home price at $104,855.
Property Tax Assessment Values Across Peterson, O'brien County, Iowa
Source: Ownwell
$64,185
$149,223
$234,260
Median Peterson Market Value
$104,855
Median O'brien County Market Value
$121,725
Median Iowa Market Value
$169,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Peterson, O'brien County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51047 | $63,644 | $78,878 | $104,855 | $144,410 | $211,963 |
Source: Ownwell
Property Tax Bills Across Peterson, O'brien County, Iowa
Property tax bills in Peterson are based on the assessed value of a home and the local tax rate set by taxing authorities in O'Brien County. When a property is assessed, that value is multiplied by the applicable rate to determine the annual bill, so homes with higher assessed values generally owe more. Local budgets, school funding, and other public services all influence the final amount homeowners pay.
For Peterson homeowners, the median home price is $104,855, and the median property tax bill is $1,289. That amount is below the national median property tax bill of $2,400, which can make the area feel more affordable than many parts of the country. Still, bills can vary widely, with the 25th percentile at $842 and the 90th percentile at $2,021. These differences show how assessed value and local tax rates can affect each homeowner differently.
Median Peterson Tax Bill
$1,289
Median O'brien County Tax Bill
$1,578
Median Iowa Tax Bill
$2,542
Median United States Tax Bill
$2,400
Property Tax Bills Across Peterson, O'brien County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51047 | $625 | $842 | $1,289 | $1,527 | $2,021 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| O'Brien Tax Assessor | |
| Website | beacon.schneidercorp.com |