Ruthven, Iowa Property Taxes
The median property tax rate in Ruthven, IA is 1.20%, higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Ruthven at $98,220, the typical annual property tax bill reaches $1,220, which is below the national median of $2,690. Property taxes in Ruthven are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Ruthven'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 Ruthven or another part of Palo Alto County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ruthven, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,179
Ownwell’s Ruthven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ruthven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruthven 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 Ruthven, Iowa
Property taxes in Ruthven, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ruthven is 1.20%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Ruthven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruthven 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 Ruthven's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51358 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Ruthven provides valuable insights into the varying tax landscape across Palo Alto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ruthven Tax Rate
1.20%
Average Palo Alto County Tax Rate
1.26%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruthven, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51358 | 0.78% | 0.96% | 1.20% | 1.60% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Ruthven, Iowa
In Ruthven, 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 Palo Alto 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 Ruthven, 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. For instance, the highest median tax bill in Ruthven is $1,220 in the 51358 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ruthven Assessed Value
$98,220
Average Palo Alto County Assessed Value
$111,265
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ruthven, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51358 | $28,074 | $51,095 | $98,220 | $191,238 | $329,250 |
Source: Ownwell
Property Tax Bills Across Ruthven, Iowa
In Ruthven, located in Palo Alto County, IA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors who evaluate the property’s market value. Homeowners in Ruthven can expect their property tax bill to be influenced by several factors, including the property’s assessed value, the local tax rate, and any applicable exemptions or deductions. For example, the median home price in Ruthven is $98,220. With the national median property tax rate at 0.99%, local variations can lead to different tax bills. In Ruthven, the tax bills range significantly, with the 25th percentile at $670 and the 75th percentile reaching $2,104. At the 90th percentile, homeowners might pay as much as $3,444. The highest median tax bill in the area is $1,220, which is consistent across the zip code 51358. These property taxes directly affect homeowners by influencing their annual housing costs, making it crucial to understand how these bills are calculated and what factors play a role in their determination.
Average Ruthven Tax Bill
$1,220
Average Palo Alto County Tax Bill
$1,364
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruthven, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51358 | $377 | $670 | $1,220 | $2,104 | $3,444 |
Source: Ownwell