Nodaway, Iowa Property Taxes
The median property tax rate in Nodaway, IA is 1.14%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Nodaway, the typical annual property tax bill reaches $3,264, surpassing the national median of $2,690. Property taxes in Nodaway are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Nodaway'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 Nodaway 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
Nodaway, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$3,458
Ownwell’s Nodaway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nodaway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nodaway 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 Nodaway, Iowa
Property taxes in Nodaway, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nodaway is 1.33%, significantly higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Nodaway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nodaway 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 Nodaway's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50857 zip code has both the highest and lowest median property tax rate of 1.33%. Understanding how these cities compare with Nodaway provides valuable insights into the varying tax landscape across Page County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nodaway Tax Rate
1.14%
Average Montgomery County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nodaway, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | 1.09% | 1.11% | 1.14% | 1.27% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Nodaway, Iowa
In Nodaway, 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 Montgomery 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 Nodaway, 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 Nodaway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Nodaway is $3,264 in the 50857 zip code.
Average Nodaway Assessed Value
$303,320
Average Montgomery County Assessed Value
$96,860
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nodaway, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | $181,296 | $227,055 | $303,320 | $318,415 | $327,472 |
Source: Ownwell
Property Tax Bills Across Nodaway, Iowa
In Nodaway, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's size, age, location, and market conditions play a significant role in this assessment. For instance, the median home price in Nodaway is $303,320, and property tax bills can vary widely. At the 25th percentile, homeowners might pay around $2,492 annually, while those at the 75th percentile could see bills as high as $3,960. In some cases, property taxes can reach up to $4,378, as seen in the 90th percentile. These taxes significantly impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Nodaway's property tax rates can be relatively high, affecting affordability and long-term financial planning for residents.
Average Nodaway Tax Bill
$3,264
Average Montgomery County Tax Bill
$1,611
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Nodaway, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | $2,029 | $2,492 | $3,264 | $3,960 | $4,378 |
Source: Ownwell