Nashua, Iowa Property Taxes
The median property tax rate in Nashua, IA is 0.93%, slightly below the national median of 0.99% but significantly lower than the Iowa state median of 1.54%. With a median home value of $199,205 in Nashua, the typical annual property tax bill amounts to $2,092, which is below the national median of $2,690. Property taxes in Nashua are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Nashua's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Nashua 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
Nashua, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,853
Ownwell’s Nashua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nashua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nashua 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 Nashua, Iowa
Property taxes in Nashua, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nashua is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Nashua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nashua 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 Nashua's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50658 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Nashua provides valuable insights into the varying tax landscape across Floyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nashua Tax Rate
0.93%
Average Floyd County Tax Rate
1.40%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nashua, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50658 | 0.81% | 0.85% | 0.93% | 1.06% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Nashua, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Nashua, IA. 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 Floyd 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 Nashua, 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. The median home price in Nashua is $199,205, with the 25th percentile tax bill at $1,228 and the 75th percentile tax bill at $3,008. The highest and lowest median tax bills are both $2,092 in zip code 50658. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nashua Assessed Value
$199,205
Average Floyd County Assessed Value
$118,220
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nashua, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50658 | $57,904 | $106,762 | $199,205 | $314,812 | $400,904 |
Source: Ownwell
Property Tax Bills Across Nashua, Iowa
In Nashua, Iowa, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $199,205, homeowners can expect varying tax bills depending on their property's assessed value and applicable tax rate. Several factors influence the property tax bill, including the home's location, size, and any applicable exemptions. In Nashua, the property tax bills range significantly, with the 25th percentile at $1,228 and the 75th percentile at $3,008. The 90th percentile tax bill can be as high as $4,244. These figures highlight the variability in tax obligations depending on individual property assessments. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Comparing these figures to the national median property tax rate of 0.99%, Nashua's property tax landscape offers a detailed view of how local assessments and rates shape financial responsibilities for residents.
Average Nashua Tax Bill
$2,092
Average Floyd County Tax Bill
$1,659
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Nashua, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50658 | $860 | $1,228 | $2,092 | $3,008 | $4,244 |
Source: Ownwell