Austinville, Iowa Property Taxes
The median property tax rate in Austenville, IA is 1.02%, which is slightly above the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $52,960 in Austenville, the typical annual property tax bill amounts to $481, significantly below the national median of $2,690. Property taxes in Austenville are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Austenville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in Austenville or another part of Butler County, having a grasp of the local property tax system is crucial for maximizing your financial benefits.
Last Updated June 14, 2024
Austinville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$540
Ownwell’s Austenville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Austenville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Austenville to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Austinville, Iowa
Property taxes in Austinville, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Austinville is 1.02%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Austinville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Austinville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Austinville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50608 zip code has the highest median property tax rate of 1.02%, while the 50608 zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Austinville provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Austinville Tax Rate
1.02%
Average Butler County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Austinville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50608 | 0.81% | 0.90% | 1.02% | 1.10% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Austinville, Iowa
In Austenville, Iowa, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Butler County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Austenville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Austenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is $481 in zip code 50608, which is also the lowest, highlighting the uniformity in tax assessments.
Average Austinville Assessed Value
$52,960
Average Butler County Assessed Value
$143,820
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Austinville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50608 | $7,950 | $38,420 | $52,960 | $108,780 | $149,170 |
Source: Ownwell
Property Tax Bills Across Austinville, Iowa
In Austinvillle, located in Butler County, IA, property tax bills are calculated based on the assessed value of a homeowner's property. The county assesses the market value of the property and then applies the local tax rate to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and improvements. For instance, the median home price in Austinvillle is $52,960. Homeowners at the 25th percentile can expect a tax bill around $321, while those at the 75th percentile might see a bill closer to $1,069. The highest median tax bill in the area is $481, which also happens to be the lowest, indicating a consistent tax rate across the zip code 50608. These property taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners in Austinvillle benefit from relatively low property taxes compared to the national median property tax rate of 0.99%, making it an attractive location for those looking to manage their living expenses effectively.
Average Austinville Tax Bill
$481
Average Butler County Tax Bill
$1,964
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Austinville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50608 | $84 | $321 | $481 | $1,069 | $1,203 |
Source: Ownwell