Onslow, Iowa Property Taxes
The median property tax rate in Onslow, IA is 1.24%, slightly above the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $107,370 in Onslow, the typical annual property tax bill amounts to $1,358, which is below the national median of $2,690. Property taxes in Onslow are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Onslow'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 Onslow or another part of Jones County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Onslow, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,331
Ownwell’s Onslow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Onslow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Onslow 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 Onslow, Iowa
Property taxes in Onslow, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Onslow is 1.16%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Onslow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Onslow 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 Onslow's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52321 zip code has the highest median property tax rate of 1.24%, while the same 52321 zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Onslow provides valuable insights into the varying tax landscape across Jones County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Onslow Tax Rate
1.24%
Average Jones County Tax Rate
1.38%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Onslow, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52321 | 1.04% | 1.11% | 1.24% | 1.44% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Onslow, Iowa
In Onslow, 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 Jones 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 Onslow, 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 Onslow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In the zip code 52321, the median tax bill is $1,358, which is the highest and lowest in the area.
Average Onslow Assessed Value
$107,370
Average Jones County Assessed Value
$156,350
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Onslow, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52321 | $28,040 | $60,390 | $107,370 | $186,630 | $273,480 |
Source: Ownwell
Property Tax Bills Across Onslow, Iowa
In Onslow, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, the median home price in Onslow is $107,370. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Onslow experience a range of tax bills. At the 25th percentile, the tax bill is around $772, while at the 75th percentile, it rises to approximately $2,301. For those at the 90th percentile, the tax bill can reach up to $3,284. Comparatively, the highest and lowest median tax bill in the area remains consistent at $1,358, which is below the national median property tax rate of 0.99%. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Understanding these factors helps homeowners better anticipate their financial responsibilities and the benefits they receive in return.
Average Onslow Tax Bill
$1,358
Average Jones County Tax Bill
$2,222
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Onslow, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52321 | $403 | $772 | $1,358 | $2,301 | $3,284 |
Source: Ownwell