Rose Hill, Iowa Property Taxes
The median property tax rate in Rose Hill, IA is 1.13%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $107,360, the typical annual property tax bill in Rose Hill comes to $1,209, falling below the national median of $2,690. Property taxes in Rose Hill are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Rose Hill'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 Rose Hill or another part of Mahaska County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rose Hill, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,213
Ownwell's Rose Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rose Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rose Hill 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 Rose Hill, Iowa
Property taxes in Rose Hill, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rose Hill is 1.13%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Rose Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rose Hill 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 Rose Hill's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52586 zip code has the highest median property tax rate of 1.13%, while the 52586 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Rose Hill provides valuable insights into the varying tax landscape across Mahaska County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rose Hill Tax Rate
1.13%
Average Mahaska County Tax Rate
1.54%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rose Hill, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52586 | 0.83% | 0.99% | 1.13% | 1.32% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Rose Hill, Iowa
In Rose Hill, 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 Mahaska 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 Rose Hill, 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. The median home price in Rose Hill is $107,360, with tax bills ranging significantly. The highest median tax bill is found in zip code 52586, amounting to $1,209. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rose Hill Assessed Value
$107,360
Average Mahaska County Assessed Value
$125,860
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rose Hill, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52586 | $10,685 | $34,280 | $107,360 | $194,508 | $276,003 |
Source: Ownwell
Property Tax Bills Across Rose Hill, Iowa
In Rose Hill, property tax bills are calculated based on the assessed value of a property, which is derived from the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Rose Hill is $107,360, which serves as a benchmark for calculating property taxes. Homeowners in Rose Hill experience a range of tax bills. At the 25th percentile, tax bills are around $406, while at the 75th percentile, they can reach up to $2,228. For those at the 90th percentile, tax bills can climb to $2,830. The highest median tax bill in the area is $1,209, which is notably higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Rose Hill Tax Bill
$1,209
Average Mahaska County Tax Bill
$1,886
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Rose Hill, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52586 | $114 | $406 | $1,209 | $2,228 | $2,830 |
Source: Ownwell