Aredale, Iowa Property Taxes
The median property tax rate in Aredale, IA is 1.18%, higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Aredale at $96,950, the typical annual property tax bill reaches $1,102, which is below the national median of $2,690. Property taxes in Aredale are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Aredale'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 Aredale or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aredale, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,144
Ownwell’s Aredale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aredale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aredale 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 Aredale, Iowa
Property taxes in Aredale, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aredale is 1.18%, significantly higher than both the Iowa state median of 1.56% and the U.S. national median of 0.99%. Local government entities within Aredale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aredale 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 Aredale's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50605 has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Aredale provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aredale Tax Rate
1.18%
Average Franklin County Tax Rate
1.64%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aredale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50605 | 1.00% | 1.03% | 1.18% | 1.32% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Aredale, Iowa
In Aredale, 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 Franklin 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 Aredale, 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. For example, the median home price in Aredale is $96,950, with tax bills ranging from $790 at the 25th percentile to $2,677 at the 90th percentile. 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 Aredale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Aredale Assessed Value
$96,950
Average Franklin County Assessed Value
$103,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aredale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50605 | $25,830 | $72,750 | $96,950 | $131,600 | $193,770 |
Source: Ownwell
Property Tax Bills Across Aredale, Iowa
In Aredale, property tax bills are calculated based on the assessed value of a home, which is determined by the Franklin County assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to the assessed value to determine the annual property tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Aredale experience property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is $790, while at the 75th percentile, it rises to $1554. The 90th percentile sees tax bills as high as $2677. The highest median tax bill in the area is $1102, which is the same across all zip codes in Franklin County. These property taxes play a crucial role in funding local services, including schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Aredale Tax Bill
$1,102
Average Franklin County Tax Bill
$1,653
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Aredale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50605 | $277 | $790 | $1,102 | $1,554 | $2,677 |
Source: Ownwell