Mediapolis, Iowa Property Taxes
The median property tax rate in Mediapolis, IA is 1.25%, 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 $143,300 in Mediapolis, the typical annual property tax bill is $1,748, falling short of the national median of $2,690. Property taxes in Mediapolis are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Mediapolis'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 Mediapolis or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mediapolis, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,791
Ownwell’s Mediapolis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mediapolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mediapolis 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 Mediapolis, Iowa
Property taxes in Mediapolis, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mediapolis is 1.25%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Mediapolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mediapolis 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 Mediapolis's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52637 zip code has the highest median property tax rate of 1.25%, while the 52637 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Mediapolis provides valuable insights into the varying tax landscape across Des Moines County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mediapolis Tax Rate
1.25%
Average Des Moines County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mediapolis, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52637 | 1.02% | 1.12% | 1.25% | 1.33% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Mediapolis, Iowa
In Mediapolis, 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 Des Moines 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 Mediapolis, 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 Mediapolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In the 52637 zip code, the highest and lowest median tax bills are both $1,748.
Average Mediapolis Assessed Value
$143,300
Average Des Moines County Assessed Value
$105,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mediapolis, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52637 | $46,250 | $90,550 | $143,300 | $212,125 | $298,150 |
Source: Ownwell
Property Tax Bills Across Mediapolis, Iowa
In Mediapolis, property tax bills are calculated based on the assessed value of a home, which is determined by the Des Moines County assessor. The median home price in Mediapolis is $143,300. Property tax rates are applied to this assessed value to determine the annual tax bill. The tax rate in Mediapolis is influenced by various local factors, including funding requirements for schools, infrastructure, and public services. For homeowners, the tax bill can vary significantly. The 25th percentile tax bill is $1,116, while the 75th percentile tax bill is $2,528, and the 90th percentile tax bill reaches $3,703. The highest and lowest median tax bills in the area are both $1,748, indicating a relatively consistent tax rate within the zip code 52637. These property taxes are crucial for maintaining community services but can also represent a significant expense for homeowners, impacting their overall cost of living. Comparing this to the national median property tax rate of 0.99%, Mediapolis residents experience a tax rate that aligns closely with the national average.
Average Mediapolis Tax Bill
$1,748
Average Des Moines County Tax Bill
$1,606
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Mediapolis, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52637 | $500 | $1,116 | $1,748 | $2,528 | $3,703 |
Source: Ownwell