Modale, Iowa Property Taxes
The median property tax rate in Modale, IA is 1.06%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Modale at $100,645, the typical annual property tax bill is approximately $1,028, which is below the national median of $2,690. Property taxes in Modale are calculated based on the tax assessed value, generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Modale'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 Modale 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
Modale, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,067
Ownwell’s Modale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Modale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Modale 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 Modale, Iowa
Property taxes in Modale, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Modale is 1.06%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Modale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Modale estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total assessed 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 Modale's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51556 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these areas compare with Modale provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Modale Tax Rate
1.06%
Average Harrison County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Modale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51556 | 0.87% | 0.93% | 1.06% | 1.18% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Modale, Iowa
In Modale, 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 Harrison County Appraisal District 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 Modale, 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. With a median home price of $100,645, property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $482, while at the 75th percentile, it reaches $1,886. The highest median tax bill in the area is $1,028 in the 51556 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Modale Assessed Value
$100,645
Average Harrison County Assessed Value
$150,125
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Modale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51556 | $21,177 | $43,835 | $100,645 | $186,818 | $264,115 |
Source: Ownwell
Property Tax Bills Across Modale, Iowa
In Modale, located in Harrison County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. To calculate the tax bill, the assessed value is multiplied by the local tax rate. Various factors influence the assessed value, including the property's size, location, and condition. For homeowners in Modale, the median home price is $100,645, with property tax bills ranging significantly. The 25th percentile tax bill is $482, while the 75th percentile tax bill is $1886, and the 90th percentile tax bill reaches $2590. These variations highlight how different factors can impact the final tax bill. Compared to the national median property tax rate of 0.99%, Modale's tax rates can be seen as relatively moderate, providing homeowners with a clearer understanding of their financial obligations.
Average Modale Tax Bill
$1,028
Average Harrison County Tax Bill
$1,959
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Modale, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51556 | $230 | $482 | $1,028 | $1,886 | $2,590 |
Source: Ownwell