Mount Union, Iowa Property Taxes
The median property tax rate in Mount Union, IA is 1.23%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Mount Union at $154,000, the typical annual property tax bill amounts to $2,020, falling short of the national median of $2,690. Property taxes in Mount Union are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Mount Union's property tax system, exploring the available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're situated in the heart of Mount Union or another part of Des Moines County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Union, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,894
Ownwell’s Mount Union Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Union with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Union 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 Mount Union, Iowa
Property taxes in Mount Union, Iowa, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Union is 1.23%, which is higher than the U.S. national median of 0.99%. Local government entities within Mount Union set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Union 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 Mount Union's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52644 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Mount Union 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 Mount Union Tax Rate
1.23%
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 Mount Union, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52644 | 1.16% | 1.19% | 1.23% | 1.30% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Mount Union, Iowa
In Mount Union, 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 Mount Union, 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 Mount Union helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both amount to $2020.00, found in zip code 52644.
Average Mount Union Assessed Value
$154,000
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 Mount Union, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52644 | $95,300 | $115,600 | $154,000 | $222,300 | $323,900 |
Source: Ownwell
Property Tax Bills Across Mount Union, Iowa
In Mount Union, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate in Des Moines County, where Mount Union is located, is applied to this assessed value to calculate the annual property tax bill. Factors considered in the assessment include the size, location, and condition of the property as well as recent sales of similar homes in the area. For homeowners in Mount Union, the median home price is $154,000. At the 25th percentile, tax bills are around $1,434, while at the 75th percentile, they can reach up to $2,838. For those at the 90th percentile, tax bills can go as high as $4,282. These figures illustrate the range of property tax bills homeowners might expect, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, these rates reflect the specific economic conditions and property values in Mount Union. Understanding these factors can help homeowners better anticipate their annual tax obligations.
Average Mount Union Tax Bill
$2,020
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 Mount Union, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52644 | $1,172 | $1,434 | $2,020 | $2,838 | $4,282 |
Source: Ownwell