Mitchellville, Iowa Property Taxes
The median property tax rate in Mitchellville, IA is 1.45%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $198,500 in Mitchellville, the typical annual property tax bill amounts to $2,960, surpassing the national median of $2,690. Property taxes in Mitchellville are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Navigating Mitchellville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mitchellville or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mitchellville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$2,878
Ownwell’s Mitchellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mitchellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mitchellville 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 Mitchellville, Iowa
Property taxes in Mitchellville, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mitchellville is 1.45%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Mitchellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mitchellville 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 Mitchellville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50169 zip code has the highest median property tax rate of 1.45%, while the lowest median tax rate is also found in the 50169 zip code at 1.45%. Understanding how these cities compare with Mitchellville provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mitchellville Tax Rate
1.45%
Average Polk County Tax Rate
1.69%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mitchellville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50169 | 1.35% | 1.40% | 1.45% | 1.50% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Mitchellville, Iowa
In Mitchellville, 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 Polk 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 Mitchellville, 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. The median home price in Mitchellville is $198,500, with property tax bills ranging from $2,308 at the 25th percentile to $4,246 at the 75th percentile. The zip code 50169 has both the highest and lowest median tax bill of $2,960. 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 Mitchellville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mitchellville Assessed Value
$198,500
Average Polk County Assessed Value
$231,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mitchellville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50169 | $85,950 | $145,500 | $198,500 | $289,900 | $410,100 |
Source: Ownwell
Property Tax Bills Across Mitchellville, Iowa
In Mitchellville, Polk County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Mitchellville, the median home price is $198,500, which serves as a baseline for calculating taxes. Factors considered in determining the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. The tax bill can vary significantly, with the 25th percentile at $2,308 and the 75th percentile reaching $4,246. At the 90th percentile, homeowners might see bills as high as $5,925. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. For comparison, the national median property tax rate is 0.99%, highlighting the relative tax burden on Mitchellville homeowners. This system ensures that property taxes are fairly distributed based on property values and local needs.
Average Mitchellville Tax Bill
$2,960
Average Polk County Tax Bill
$3,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Mitchellville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50169 | $1,657 | $2,308 | $2,960 | $4,246 | $5,925 |
Source: Ownwell