Nodaway, Iowa Property Taxes
The median property tax rate in Nodaway, 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 $77,470, the typical annual property tax bill in Nodaway is around $909, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Nodaway's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in the heart of Nodaway or another part of the city, gaining insight into the local property tax system is crucial for financial planning and investment.
Last Updated June 14, 2024
Nodaway, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$875
Ownwell’s Nodaway Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Nodaway with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Nodaway to project your property tax bill. This valuable tool aids in understanding potential tax liabilities, giving you a clearer financial picture. For those interested in more granular details, you can explore trends on a neighborhood level by scrolling down. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Nodaway, Iowa
Property taxes in Nodaway, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nodaway is 1.13%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Nodaway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nodaway 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 Nodaway's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50857 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Nodaway provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nodaway Tax Rate
1.13%
Average Taylor County Tax Rate
1.27%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nodaway, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | 0.77% | 1.02% | 1.13% | 1.24% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Nodaway, Iowa
In Nodaway, 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 local 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 Nodaway, 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 Nodaway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Nodaway is $77,470, with tax bills ranging from $490 at the 25th percentile to $3,596 at the 90th percentile. The highest and lowest median tax bills, both at $909, are found in the 50857 zip code.
Average Nodaway Assessed Value
$77,470
Average Taylor County Assessed Value
$80,810
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nodaway, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | $23,056 | $41,825 | $77,470 | $176,105 | $387,314 |
Source: Ownwell
Property Tax Bills Across Nodaway, Iowa
In Nodaway, located in Taylor County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Nodaway is $77,470. Tax bills can vary significantly, with the 25th percentile at $490 and the 75th percentile at $1,936. For those in the 90th percentile, tax bills can reach up to $3,596. The highest median tax bill in the area is $909, which is consistent across the 50857 zip code. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes play a crucial role in funding local services such as schools, roads, and emergency services, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, Nodaway's property tax rates may seem more favorable, but the actual impact on homeowners can vary widely based on individual property assessments and local policies.
Average Nodaway Tax Bill
$909
Average Taylor County Tax Bill
$1,036
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Nodaway, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | $160 | $490 | $909 | $1,936 | $3,596 |
Source: Ownwell