Rubio, Iowa Property Taxes
The median property tax rate in Rubio, IA is 1.03%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $55,400 in Rubio, the typical annual property tax bill amounts to $571, which is significantly below the national median of $2,690. Property taxes in Rubio are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Rubio’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 Rubio or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rubio, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$571
Ownwell’s Rubio Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rubio with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rubio 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 Rubio, Iowa
Property taxes in Rubio, Iowa, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rubio is 1.03%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Rubio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rubio 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 Rubio's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52585 zip code has both the highest and lowest median property tax rate of 1.03%. Understanding how these cities compare with Rubio provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rubio Tax Rate
1.03%
Average Washington County Tax Rate
1.51%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rubio, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52585 | 0.77% | 0.91% | 1.03% | 1.22% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Rubio, Iowa
In Rubio, 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 Washington 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 Rubio, 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 Rubio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 52585, with a median bill of $571.00.
Average Rubio Assessed Value
$55,400
Average Washington County Assessed Value
$175,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rubio, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52585 | $4,930 | $6,600 | $55,400 | $81,850 | $99,890 |
Source: Ownwell
Property Tax Bills Across Rubio, Iowa
In Rubio, Washington County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor’s office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $55,400, homeowners can expect a wide range in tax bills. The 25th percentile tax bill is $226, while the 75th percentile tax bill reaches $994, and the 90th percentile can go up to $1,256. Several factors influence these calculations, including property size, location, and any applicable exemptions. Homeowners in Rubio experience a median tax bill of $571, which is lower than the national median property tax rate of 0.99%. This relatively modest tax burden can provide some financial relief to residents, making homeownership more affordable. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Rubio Tax Bill
$571
Average Washington County Tax Bill
$2,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Rubio, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52585 | $59 | $226 | $571 | $994 | $1,256 |
Source: Ownwell