Eddyville, Iowa Property Taxes
The median property tax rate in Eddyville, IA is 1.29%, considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Eddyville at $110,920, the typical annual property tax bill reaches $1,463, which is below the national median of $2,690. Property taxes in Eddyville are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Eddyville'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 Eddyville 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
Eddyville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$1,431
Ownwell’s Eddyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eddyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eddyville 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 Eddyville, Iowa
Property taxes in Eddyville, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eddyville is 1.29%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Eddyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eddyville 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. Understanding how Eddyville's effective property tax rate compares to other regions in Mahaska County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eddyville Tax Rate
1.29%
Average Mahaska County Tax Rate
1.54%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eddyville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52553 | 0.93% | 1.06% | 1.29% | 1.41% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Eddyville, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eddyville, 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 Mahaska 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 Eddyville, 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 Eddyville is $110,920, with tax bills ranging significantly. For example, the 25th percentile tax bill is $774, while the 75th percentile reaches $2,052, and the 90th percentile is as high as $2,771. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eddyville Assessed Value
$110,920
Average Mahaska County Assessed Value
$125,860
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eddyville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52553 | $24,698 | $55,860 | $110,920 | $176,850 | $245,202 |
Source: Ownwell
Property Tax Bills Across Eddyville, Iowa
Property tax bills in Eddyville, located in Mahaska County, IA, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Eddyville see a range of property tax bills, with the 25th percentile at $774 and the 75th percentile at $2052. The 90th percentile of tax bills can reach up to $2771. In Eddyville, the median home price is $110,920. The tax rate applied to this assessed value determines the final tax bill. Various factors influence this calculation, including the property's location, size, and condition. Comparatively, while the national median property tax rate is 0.99%, Eddyville's tax bills reflect a localized approach to property valuation and taxation. For homeowners in Eddyville, these property tax bills can significantly impact annual budgets. Understanding how these taxes are calculated helps in financial planning and ensures that homeowners are prepared for their obligations.
Average Eddyville Tax Bill
$1,463
Average Mahaska County Tax Bill
$1,886
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Eddyville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52553 | $322 | $774 | $1,463 | $2,052 | $2,771 |
Source: Ownwell