Aurelia, Iowa Property Taxes
The median property tax rate in Aurelia, IA is 0.94%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With the median home value in Aurelia at $140,170, the typical annual property tax bill amounts to $1,302, which is also below the national median of $2,690. Property taxes in Aurelia are based on the tax assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. By understanding Aurelia's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in the heart of Aurelia or another part of the city, gaining insights into the local property tax system will be advantageous.
Last Updated June 14, 2024
Aurelia, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,318
Ownwell’s Aurelia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aurelia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aurelia to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Aurelia, Iowa
Property taxes in Aurelia, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Aurelia is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within Aurelia set these rates annually, and they can vary across different neighborhoods. Each year, Aurelia 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 Aurelia's effective property tax rate to other areas in Cherokee County and the national median. For comparison, the 51005 zip code has the highest median property tax rate of 0.94%, while the 51005 zip code also has the lowest median tax rate of 0.94%. Understanding how these figures compare with Aurelia provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aurelia Tax Rate
0.94%
Average Cherokee County Tax Rate
1.11%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aurelia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51005 | 0.72% | 0.83% | 0.94% | 1.02% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Aurelia, Iowa
In Aurelia, 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 Cherokee 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 Aurelia, 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. In Aurelia, the median home price is $140,170, with tax bills ranging from $811 at the 25th percentile to $2,390 at the 90th percentile. The highest and lowest median tax bills are both found in the 51005 zip code, amounting to $1,302. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Aurelia Assessed Value
$140,170
Average Cherokee County Assessed Value
$121,460
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aurelia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51005 | $51,484 | $87,860 | $140,170 | $199,720 | $276,384 |
Source: Ownwell
Property Tax Bills Across Aurelia, Iowa
In Aurelia, Cherokee County, IA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the fair market value of your property. Homeowners in Aurelia typically see property tax bills that vary significantly. For instance, the 25th percentile tax bill is around $811, while the 75th percentile tax bill can reach up to $1816. The highest median tax bill in the area is $1302, which is notably higher than the national median property tax rate of 0.99%. Factors that influence the property tax bill include the property's location, size, and any improvements or renovations made to it. For homeowners, these taxes are a crucial consideration as they can significantly impact annual expenses. A higher property tax bill can affect affordability and long-term financial planning, making it essential for homeowners to understand how their tax liabilities are determined and managed.
Average Aurelia Tax Bill
$1,302
Average Cherokee County Tax Bill
$1,348
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Aurelia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51005 | $460 | $811 | $1,302 | $1,816 | $2,390 |
Source: Ownwell