Unionville, Iowa Property Taxes
The median property tax rate in Unionville, IA is 1.61%, noticeably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $163,680 in Unionville, the typical annual property tax bill reaches $2,834, surpassing the national median of $2,690. Property taxes in Unionville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Unionville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Unionville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Unionville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$2,635
Ownwell’s Unionville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Unionville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Unionville 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 Unionville, Iowa
Property taxes in Unionville, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Unionville is 1.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Unionville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Unionville 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 Unionville's effective property tax rate to other areas in Davis County and the national median. For comparison, the 52594 zip code has the highest median property tax rate of 1.61%, while the 52594 zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Unionville provides valuable insights into the varying tax landscape across Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Unionville Tax Rate
1.61%
Average Davis County Tax Rate
1.75%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Unionville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52594 | 1.13% | 1.40% | 1.61% | 1.76% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Unionville, Iowa
In Unionville, 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 Davis County Appraisal District 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 Unionville, 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. With a median home price of $163,680, tax bills can vary widely. For instance, the 25th percentile tax bill is $1,528, while the 75th percentile tax bill reaches $3,810. The highest median tax bill in the area is $2,834, found in the 52594 zip code. 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 Unionville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Unionville Assessed Value
$163,680
Average Davis County Assessed Value
$127,685
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Unionville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52594 | $52,000 | $90,300 | $163,680 | $230,490 | $324,620 |
Source: Ownwell
Property Tax Bills Across Unionville, Iowa
In Unionville, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor’s office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $163,680, homeowners can expect varying tax bills depending on which percentile their property falls into. The tax bill at the 25th percentile is around $1,528, while at the 75th percentile, it jumps to $3,810. Those at the 90th percentile can see tax bills as high as $4,767. Factors such as property location, improvements, and market conditions influence the assessed value, thereby impacting the tax bill. Homeowners in Unionville should be aware that their property tax rate might be higher or lower than the national median property tax rate of 0.99%, depending on these variables. Understanding these components helps homeowners anticipate their tax liabilities and manage their finances more effectively.
Average Unionville Tax Bill
$2,834
Average Davis County Tax Bill
$2,254
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Unionville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52594 | $613 | $1,528 | $2,834 | $3,810 | $4,767 |
Source: Ownwell