Runnells, Polk County, Iowa Property Taxes
Median Runnells, IA effective property tax rate: 1.35%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Runnells, IA home value: $339,660
Median annual Runnells, IA tax bill: $4,588, $2,188 higher than the national median property tax bill of $2,400.
How are property taxes in Polk County calculated?
Property taxes in Runnells, 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 Runnells’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Runnells, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Runnells, Polk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.35%
Estimate Property Tax Bill
$4,585
$4,255
Property Tax Rates Across Runnells, Polk County, Iowa
Local government entities set tax rates, and these can vary significantly within a state. Annually, each county determines its required budget to provide essential services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the essence of the annual process.
In Runnells, located in Polk County, the effective property tax rate stands at 1.35%. This is notably higher than the national median property tax rate of 1.02%. When comparing Runnells to other cities in Iowa, its property tax rate is consistent with the highest and lowest rates within the state, both recorded at 1.35% in the same zip code, 50237. This highlights the uniformity in tax rates within this specific region. The median property tax rate in Iowa is also 1.35%, indicating that Runnells aligns with the state’s average, yet exceeds the national median.
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 Runnells Tax Rate
1.35%
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 Polk County Tax Rate
1.69%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Runnells, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50237 | 1.27% | 1.32% | 1.35% | 1.44% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Runnells, Polk County, Iowa
When examining property taxes in Runnells, 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 Polk County Assessor's Office 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 Polk 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 Runnells. For example, the median home price in Runnells is $339,660, with tax bills ranging significantly across the county. Zip code 50237 has the highest median home price at $339,660.
Property Tax Assessment Values Across Runnells, Polk County, Iowa
Source: Ownwell
$2,050
$223,775
$445,500
Median Runnells Market Value
$339,660
Median Polk County Market Value
$231,500
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Runnells, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50237 | $145,020 | $237,160 | $339,660 | $468,000 | $583,000 |
Source: Ownwell
Property Tax Bills Across Runnells, Polk County, Iowa
Median Runnells Tax Bill
$4,588
Median Polk County Tax Bill
$3,904
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Runnells, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50237 | $2,137 | $3,271 | $4,588 | $6,295 | $7,940 |
Source: Ownwell