Macksburg, Iowa Property Taxes
The median property tax rate in Macksburg, IA is 1.09%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Macksburg at $164,325, the typical annual property tax bill reaches $1,806, which is below the national median of $2,690. Property taxes in Macksburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Macksburg'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 Macksburg 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
Macksburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,791
Ownwell’s Macksburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Macksburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Macksburg 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 Macksburg, Iowa
Property taxes in Macksburg, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Macksburg is 1.09%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Macksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Macksburg 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 Macksburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50155 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Macksburg provides valuable insights into the varying tax landscape across Adair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Macksburg Tax Rate
1.09%
Average Adair County Tax Rate
1.47%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Macksburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50155 | 0.97% | 1.04% | 1.09% | 1.13% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Macksburg, Iowa
In Macksburg, 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 Adair 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 Macksburg, 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 Macksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Adair County are both $1806, found in the 50155 zip code.
Average Macksburg Assessed Value
$164,325
Average Adair County Assessed Value
$113,535
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Macksburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50155 | $71,188 | $94,165 | $164,325 | $266,280 | $346,488 |
Source: Ownwell
Property Tax Bills Across Macksburg, Iowa
In Macksburg, located in Adair County, IA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. For homeowners in Macksburg, the median home price is $164,325. Property tax bills vary significantly, with the 25th percentile tax bill at $991 and the 75th percentile at $3,048. At the higher end, the 90th percentile tax bill reaches $4,103. These figures highlight the range of property tax obligations homeowners may face, depending on their property's assessed value and specific characteristics. Compared to the national median property tax rate of 0.99%, Macksburg's property taxes can significantly impact homeowners' annual expenses.
Average Macksburg Tax Bill
$1,806
Average Adair County Tax Bill
$1,656
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Macksburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50155 | $705 | $991 | $1,806 | $3,048 | $4,103 |
Source: Ownwell