Adair, Adair County, Iowa Property Taxes
The median property tax rate in Adair, IA is 1.44%, which is notably higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With a median home value in Adair of $118,160, the typical annual property tax bill amounts to $1,650, which is below the national median of $2,690. Property taxes in Adair are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Adair'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 Adair or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Adair, Adair County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,702
$1,579
Ownwell’s Adair Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Adair with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Adair 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 Adair, Adair County, Iowa
Property taxes in Adair, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Adair is 1.44%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Adair set these rates annually, and they can vary significantly across different neighborhoods. Each year, Adair 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 Adair's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50002 has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Adair provides valuable insights into the varying tax landscape across Adair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Adair Tax Rate
1.44%
Average Adair County Tax Rate
1.47%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Adair, Adair County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50002 | 1.02% | 1.22% | 1.44% | 1.57% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Adair, Adair County, Iowa
In Adair, 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 county 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 Adair, 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 Adair helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 50002, both valued at $1,650.
Property Tax Assessment Values Across Adair, Adair County, Iowa
Source: Ownwell
$58,565
$109,673
$160,780
Average Adair Assessed Value
$118,160
Average Adair County Assessed Value
$113,535
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Adair, Adair County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50002 | $50,560 | $72,960 | $118,160 | $176,080 | $263,720 |
Source: Ownwell
Property Tax Bills Across Adair, Adair County, Iowa
In Adair, Iowa, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Adair is $118,160. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property characteristics, improvements, and market conditions. Homeowners in Adair experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $1,064, while at the 75th percentile, it reaches $2,349. Those in the 90th percentile can expect a tax bill of up to $3,269. The highest and lowest median tax bills in Adair are both $1,650, indicating a relatively consistent tax burden across different areas. Compared to the national median property tax rate of 0.99%, Adair's property taxes can vary significantly, impacting homeowners' financial planning and obligations. Understanding these factors helps homeowners anticipate and manage their property tax responsibilities effectively.
Average Adair Tax Bill
$1,650
Average Adair County Tax Bill
$1,656
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Adair, Adair County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50002 | $613 | $1,064 | $1,650 | $2,349 | $3,269 |
Source: Ownwell