Oakville, Iowa Property Taxes
The median property tax rate in Oakville, IA is 1.35%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Oakville, the typical annual property tax bill amounts to $2,286, which is below the national median of $2,690. Property taxes in Oakville are calculated based on the tax assessed value, which is usually less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Oakville'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 Oakville 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
Oakville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$2,309
Ownwell’s Oakville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakville 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 Oakville, Iowa
Property taxes in Oakville, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakville is 1.35%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Oakville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakville 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 Oakville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52646 zip code has the highest median property tax rate of 1.35%, while the 52646 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Oakville 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 Oakville Tax Rate
1.35%
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 Oakville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52646 | 1.07% | 1.19% | 1.35% | 1.53% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Oakville, Iowa
In Oakville, 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 Oakville, 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. For instance, the highest median tax bill in Oakville is $2286 in zip code 52646, while the lowest is also $2286 in the same zip code. Being aware of these valuation processes in Oakville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oakville Assessed Value
$171,000
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 Oakville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52646 | $56,100 | $117,800 | $171,000 | $235,450 | $291,900 |
Source: Ownwell
Property Tax Bills Across Oakville, Iowa
In Oakville, located in Des Moines County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $171,000, homeowners can expect their tax bills to vary significantly. Factors like property size, location, and any improvements made to the home can influence the assessed value. The tax rate in Oakville is applied to this assessed value to determine the final tax bill. In this region, the 25th percentile tax bill is around $1,594, while the 75th percentile tax bill can reach up to $3,072. For those in the 90th percentile, tax bills can be as high as $4,416. These figures highlight the range of property taxes homeowners might face, emphasizing the importance of understanding how local assessments and tax rates impact their annual financial obligations.
Average Oakville Tax Bill
$2,286
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 Oakville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52646 | $690 | $1,594 | $2,286 | $3,072 | $4,416 |
Source: Ownwell