Macedonia, Iowa Property Taxes
The median property tax rate in Macedonia, IA is 1.36%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $145,000 in Macedonia, the typical annual property tax bill amounts to $1,995, falling short of the national median of $2,690. Property taxes in Macedonia are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Macedonia'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 Macedonia 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
Macedonia, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$1,972
Ownwell’s Macedonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Macedonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Macedonia 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 Macedonia, Iowa
Property taxes in Macedonia, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Macedonia is 1.36%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Macedonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Macedonia 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 Macedonia's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51549 zip code has the highest median property tax rate of 1.36%, while the 51549 zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Macedonia provides valuable insights into the varying tax landscape across Pottawattamie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Macedonia Tax Rate
1.36%
Average Pottawattamie County Tax Rate
1.73%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Macedonia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51549 | 1.11% | 1.22% | 1.36% | 1.54% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Macedonia, Iowa
In Macedonia, 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 Pottawattamie 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 Macedonia, 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 Macedonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 51549 zip code has both the highest and lowest median tax bill, each valued at $1,995.
Average Macedonia Assessed Value
$145,000
Average Pottawattamie County Assessed Value
$173,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Macedonia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51549 | $49,400 | $88,200 | $145,000 | $215,200 | $309,640 |
Source: Ownwell
Property Tax Bills Across Macedonia, Iowa
In Macedonia, located in Pottawattamie County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this region is $145,000. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate, which can vary depending on various factors such as school district funding needs and local government budgets. Homeowners in Macedonia can expect a wide range of tax bills. For instance, the 25th percentile tax bill is around $1,297, while those in the 75th percentile face bills of about $3,008. The 90th percentile tax bill can go up to $3,815. The median property tax rate in the area is notably higher than the national median of 0.99%. These tax bills significantly impact homeowners by affecting their annual budgeting and long-term financial planning. Understanding how these taxes are calculated helps homeowners in Macedonia better prepare for their financial obligations.
Average Macedonia Tax Bill
$1,995
Average Pottawattamie County Tax Bill
$2,932
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Macedonia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51549 | $751 | $1,297 | $1,995 | $3,008 | $3,815 |
Source: Ownwell