Montpelier, Iowa Property Taxes
The median property tax rate in Montpelier, Iowa is 1.22%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Montpelier, the typical annual property tax bill reaches $956, falling below the national median of $2,690. Property taxes in Montpelier are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Montpelier'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 Montpelier 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
Montpelier, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$998
Ownwell’s Montpelier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montpelier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montpelier 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 Muscatine County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Montpelier, Iowa
Property taxes in Montpelier, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montpelier is 1.22%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Montpelier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montpelier 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 Montpelier's effective property tax rate to other areas in Iowa and the national median. For comparison, the 52759 zip code has both the highest and lowest median property tax rate of 1.22%. Understanding how these cities compare with Montpelier provides valuable insights into the varying tax landscape across Muscatine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montpelier Tax Rate
1.22%
Average Muscatine County Tax Rate
1.67%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montpelier, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52759 | 1.05% | 1.16% | 1.22% | 1.30% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Montpelier, Iowa
In Montpelier, 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 Muscatine 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 Montpelier, 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 Montpelier helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Montpelier is $81,830, with the 25th percentile tax bill at $753 and the 75th percentile tax bill at $1,391. The highest and lowest median tax bills are both $956, found in the zip code 52759.
Average Montpelier Assessed Value
$81,830
Average Muscatine County Assessed Value
$148,385
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montpelier, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52759 | $42,618 | $58,600 | $81,830 | $110,555 | $149,242 |
Source: Ownwell
Property Tax Bills Across Montpelier, Iowa
In Montpelier, Muscatine County, IA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Montpelier can expect a median property tax rate of 0.99%, aligning with the national median. For instance, with a median home price of $81,830, the median tax bill is approximately $956 annually. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. The tax bill can vary significantly, with the 25th percentile at $753 and the 75th percentile at $1,391, while the 90th percentile reaches up to $1,936. These variations highlight how individual property characteristics and local tax policies impact homeowners. Understanding these factors is crucial for homeowners to anticipate their financial obligations and explore potential savings through appeals or exemptions, ultimately ensuring they are not overpaying on their property taxes.
Average Montpelier Tax Bill
$956
Average Muscatine County Tax Bill
$2,396
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Montpelier, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52759 | $513 | $753 | $956 | $1,391 | $1,936 |
Source: Ownwell