Tax Information for Postville, IA
Understanding Your Tax Burden
This page provides an overview of the three main types of taxes you'll encounter in Postville, IA: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Information
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rate for Postville, IA
Annual Property Tax
$5,128
Based on a $419,200 home
Effective Rate: 1.2234%
| Data | Details |
|---|---|
| Effective Property Tax Rate (2022/2023) | 1.2234% |
| Estimated Property Tax | $5,128 |
| Home Value Used | $419,200 (U.S. median home price) |
| Tax Description | The effective rate represents the percentage of a property's value paid in taxes annually. |
State Income Tax Information
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
- Standard deductions for IA
Tax Rate in IA
4.4%-5.7%
Single
$3,800
Married
$6,840
| Data | Details |
|---|---|
| State | IA |
| Tax Rate | 4.4%-5.7% |
| Income Threshold | $$6210-$31050 |
| Estimated Tax (Single Filer) | $3,800.00 (based on $100k salary) |
| Estimated Tax (Married Couple) | $6,840.00 (based on $200k salary) |
| Estimated Tax (Median Income) | $3,061.00 (based on $80.6k salary) |
Note: Tax estimates are approximations based on standard deductions and may not account for all applicable credits, deductions, or individual circumstances. Additionally, tax rates may not be current and can be outdated. For personalized and up-to-date tax advice, please consult with a qualified tax professional.
Sales Tax Information
Sales tax is applied to most retail purchases and is collected by merchants at the point of sale. The rate can vary based on location and type of purchase.
Impact on common household expenses:
| Category | Annual Spending | Est. Sales Tax |
|---|---|---|
| Groceries | $7,000 | $560 |
| Retail | $5,000 | $400 |
| Dining | $3,500 | $280 |
Based on typical U.S. household spending patterns
Sales Tax in IA
6.00%
State rate only
Combined Max Rate:
8.000%
(Includes local taxes)
Ranks 29 out of 50 states
| Data | Details |
|---|---|
| State tax rate | 6.00% |
| Combined Sales Tax Rate (maximum) | 8.000% |
| Estimated Annual Sales Tax | $1240 (based on $15,500 taxable spending) |
| State Rank | 29 out of 50 |
| Rate Description | The combined rate includes state, county, and municipal taxes. |
Did you know?
Not all states tax groceries, and some have tax holidays for specific items like back-to-school supplies or emergency preparedness equipment. Check with local authorities for exemptions that might apply to you.
Total Tax Burden
The combined effect of property, income, and sales taxes determines your total tax burden in Postville, IA.
Annual Tax Estimate
$9,429
For median household
Tax Breakdown
5,128
3,061
1,240
National Comparison
Understanding what these taxes mean for you:
- Property taxes tend to be higher in areas with better schools and public services.
- Income taxes vary significantly between states, with some states having no income tax at all.
- Sales taxes affect your day-to-day purchases and can add up over time.
When comparing locations, consider how these taxes align with the services you value and your personal financial situation.
How does this compare?
The national average tax burden for a median household is approximately $12,500 per year.
Potential savings: Approximately $3,071 less than the national average.