Bode, Iowa Property Taxes
The median property tax rate in Bode, IA is 1.11%, slightly higher than the national median of 0.99% yet lower than the Iowa state median of 1.54%. With a median home value of $100,310 in Bode, the typical annual property tax bill amounts to $1,502, which is below the national median of $2,690. Property taxes in Bode are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Bode'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 Bode or another part of Kossuth County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bode, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,113
Ownwell’s BODE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BODE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BODE 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 Bode, Iowa
Property taxes in BODE, Iowa, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in BODE is 1.11%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within BODE set these rates annually, and they can vary significantly across different neighborhoods. Each year, BODE 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 BODE's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50519 zip code has the highest median property tax rate of 1.11%, while the 50519 zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with BODE provides valuable insights into the varying tax landscape across Kossuth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bode Tax Rate
1.11%
Average Kossuth County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bode, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50519 | 0.88% | 0.94% | 1.11% | 3.06% | 7.99% |
Source: Ownwell
Property Tax Assessment Values Across Bode, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bode, Iowa. 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 Kossuth 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 Bode, 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 Bode helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bode are both $1,502, found in zip code 50519.
Average Bode Assessed Value
$100,310
Average Kossuth County Assessed Value
$85,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bode, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50519 | $21,713 | $54,499 | $100,310 | $158,702 | $202,622 |
Source: Ownwell
Property Tax Bills Across Bode, Iowa
In Bode, located in Kossuth County, IA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, leading to fluctuations in tax bills. For homeowners, this means that changes in the local real estate market or property upgrades can significantly impact their tax obligations. For instance, with a median home price of $100,310, the tax bill varies widely. The 25th percentile tax bill stands at $1,184, while the 75th percentile reaches $2,358, and the 90th percentile climbs to $3,290. Notably, the highest and lowest median tax bills in the area are both $1,502, within the zip code 50519. Compared to the national median property tax rate of 0.99%, Bode's property taxes reflect the local economic conditions and property values, directly affecting homeowners' annual expenses.
Average Bode Tax Bill
$1,502
Average Kossuth County Tax Bill
$1,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Bode, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50519 | $700 | $1,184 | $1,502 | $2,358 | $3,290 |
Source: Ownwell