Nevada, Story County, Iowa Property Taxes

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

Median NEVADA, IA effective property tax rate: 1.50%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median NEVADA, IA home value: $196,200
Median annual NEVADA, IA tax bill: $2,872, $472 higher than the national median property tax bill of $2,400.

How are property taxes in Story calculated?

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

Last Updated March 1, 2025

Nevada, Story County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.5%

Estimate Property Tax Bill

$2,943

$2,731

Ownwell’s Nevada Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Nevada with just two data points. By entering your property's estimated assessed value, our calculator applies Nevada’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 Story County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Nevada, Story County, Iowa

Local government entities in Iowa set tax rates, which can vary significantly within the state. Each year, counties like Story estimate the budget needed to provide essential services. They then divide this budget by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws are part of the process, this is the core of how property tax rates are determined annually. In Nevada, located in Story County, the effective property tax rate is 1.50%, which is notably higher than the national median property tax rate of 1.02%. This rate also represents the highest and lowest median tax rate in the area, indicating a uniformity in property tax assessment within the region. Comparing Nevada’s rate to the national average highlights the variation in property taxation across different regions, underscoring the importance of understanding local tax structures.

Property Tax Rates Across Nevada, Story County, Iowa

Source: Ownwell

1.03%

1.36%

1.69%

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 Nevada Tax Rate

1.50%

Median Effective Story County Tax Rate

1.36%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Nevada, Story County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50201	1.02%	1.29%	1.50%	1.58%	1.66%

Source: Ownwell

Property Tax Assessment Values Across Nevada, Story County, Iowa

When examining property taxes in Nevada, 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 Story 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 Story 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 Nevada. For example, the median home price in Nevada is $196,200, with tax bills ranging significantly across the county. Zip code 50201 has the highest median home price at $196,200.

Property Tax Assessment Values Across Nevada, Story County, Iowa

Source: Ownwell

$152,200

$213,750

$275,300

Median Nevada Market Value

$196,200

Median Story County Market Value

$219,000

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Nevada, Story County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50201	$104,160	$149,950	$196,200	$282,950	$408,000

Source: Ownwell

Property Tax Bills Across Nevada, Story County, Iowa

In Nevada, Story County, IA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors and is influenced by factors such as the property's market value, location, and any improvements made. Homeowners in this area face a median property tax bill of $2,872, which is above the national median of $2,400. The tax bill can range significantly, with the 25th percentile paying around $2,222 and the 90th percentile reaching up to $5,067. These taxes can place a substantial financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.

Ownwell offers a valuable service by helping homeowners appeal their property tax assessments, potentially lowering their tax bills. By leveraging expert knowledge and a deep understanding of local tax codes, Ownwell can identify discrepancies in assessments and work to secure reductions, ensuring homeowners pay only their fair share. This service can lead to significant savings, easing the financial strain of property taxes.

Property Tax Bills Across Nevada, Story County, Iowa

Source: Ownwell

$1,982

$3,116

$4,250

Median Nevada Tax Bill

$2,872

Median Story County Tax Bill

$2,904

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Nevada, Story County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50201	$1,518	$2,222	$2,872	$3,801	$5,067

Source: Ownwell