Ventura, Iowa Property Taxes
The median property tax rate in Ventura, IA is 1.32%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $230,825 in Ventura, the typical annual property tax bill reaches $2,512, slightly below the national median of $2,690. Property taxes in Ventura are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ventura'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 Ventura 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
Ventura, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$3,047
Ownwell’s Ventura Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ventura with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ventura 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 Ventura, Iowa
Property taxes in Ventura, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Ventura is 1.32%, which is higher than the U.S. national median of 0.99%. Local government entities within Ventura set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ventura 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 Ventura's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50482 zip code has the highest median property tax rate of 1.32%, while the 50482 zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Ventura provides valuable insights into the varying tax landscape across Cerro Gordo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ventura Tax Rate
1.32%
Average Cerro Gordo County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ventura, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50482 | 0.52% | 1.07% | 1.32% | 1.46% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Ventura, Iowa
In Ventura, Iowa, understanding the difference between "market value" and "assessed value" is essential 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 Cerro Gordo 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 Ventura, 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. For example, the median home price in Ventura is $230,825, with a 25th percentile tax bill of $1,552 and a 75th percentile tax bill of $4,722. The highest median tax bill in the area is $2,512, found in zip code 50482. By understanding 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 Ventura helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ventura Assessed Value
$230,825
Average Cerro Gordo County Assessed Value
$157,690
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ventura, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50482 | $99,258 | $152,600 | $230,825 | $411,185 | $658,920 |
Source: Ownwell
Property Tax Bills Across Ventura, Iowa
In Ventura, Cerro Gordo County, IA, property tax bills are determined based on the assessed value of a home. The median home price in Ventura is $230,825, and homeowners can expect their tax bills to vary significantly. Factors that influence the tax bill include the assessed value of the property, local tax rates, and any applicable exemptions or deductions. The assessed value is typically a percentage of the market value, and local tax rates are applied to this assessed value to calculate the tax bill. For example, the tax bill at the 25th percentile is $1,552, while it rises to $4,722 at the 75th percentile and $8,128 at the 90th percentile. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for Ventura residents. With the national median property tax rate at 0.99%, Ventura's rates reflect regional economic conditions and funding needs, ensuring that homeowners contribute fairly to the community's well-being.
Average Ventura Tax Bill
$2,512
Average Cerro Gordo County Tax Bill
$2,032
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Ventura, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50482 | $848 | $1,552 | $2,512 | $4,722 | $8,128 |
Source: Ownwell