Amana, Iowa Property Taxes
The median property tax rate in Amana, IA is 1.35%, notably higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With the median home value in Amana at $199,530, the typical annual property tax bill amounts to $2,475, which is below the national median of $2,690. Property taxes in Amana are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a clear understanding of Amana's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether residing in the heart of Amana or other parts of the city, comprehending the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Amana, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$2,694
Ownwell’s Amana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amana 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 Amana, Iowa
Property taxes in Amana, Iowa, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Amana is 1.35%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Amana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amana 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 Amana's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52203 zip code has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Amana provides valuable insights into the varying tax landscape across Iowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amana Tax Rate
1.35%
Average Iowa County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52203 | 0.97% | 1.09% | 1.35% | 1.41% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Amana, Iowa
In Amana, 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 Iowa 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 Amana, 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 Amana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52203 has the highest and lowest median tax bill at $2,475.
Average Amana Assessed Value
$199,530
Average Iowa County Assessed Value
$157,090
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52203 | $24,186 | $129,930 | $199,530 | $285,150 | $431,750 |
Source: Ownwell
Property Tax Bills Across Amana, Iowa
In Amana, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Factors such as the property's market value, improvements made to the property, and the overall tax rate in Iowa County play significant roles in determining the final tax amount. For instance, the median home price in Amana is $199,530, and property tax bills can vary widely. Homeowners in the 25th percentile pay around $1,654, while those in the 75th percentile face bills of up to $3,509. At the 90th percentile, the tax bill can reach $4,931. This variability highlights the impact of property value and local tax rates on the overall tax burden. With the national median property tax rate at 0.99%, homeowners in Amana experience a range of tax obligations, reflecting both the value of their properties and the local fiscal policies.
Average Amana Tax Bill
$2,475
Average Iowa County Tax Bill
$2,134
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52203 | $354 | $1,654 | $2,475 | $3,509 | $4,931 |
Source: Ownwell