Nodaway, Adams County, Iowa Property Taxes
The median property tax rate in Nodaway, IA is 1.36%, 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 at $84,700, the typical annual property tax bill reaches $1,021, still below the national median of $2,690. Property taxes in Nodaway are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the 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, Adams County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$1,152
$1,069
Ownwell’s Nodaway Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Nodaway. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Nodaway to provide an accurate estimate of your property tax bill. This user-friendly tool helps you gain a clear understanding of your potential tax liabilities. For those interested in more granular data, localized neighborhood trends are available just a scroll away. Your property’s assessed value, determined by the county, is crucial for these calculations and considers any applicable exemptions.
Property Tax Rates Across Nodaway, Adams County, 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 1.36%, significantly higher than both the Iowa state median 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 zip code 50857 has both the highest and lowest median property tax rate of 1.36%. Understanding how these cities compare with Nodaway provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nodaway Tax Rate
1.36%
Average Adams County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nodaway, Adams County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | 1.03% | 1.21% | 1.36% | 1.57% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Nodaway, Adams County, 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 Adams 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. The zip code with the highest median tax bill is 50857, amounting to $1021, while the one with the lowest is also 50857 at $1021.
Property Tax Assessment Values Across Nodaway, Adams County, Iowa
Source: Ownwell
$15,050
$110,325
$205,600
Average Nodaway Assessed Value
$84,700
Average Adams County Assessed Value
$114,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nodaway, Adams County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | $10,160 | $30,300 | $84,700 | $182,300 | $278,250 |
Source: Ownwell
Property Tax Bills Across Nodaway, Adams County, Iowa
In Nodaway, 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. Several factors influence the assessed value, including the home's size, age, location, and market conditions. For homeowners in Nodaway, the median home price is $84,700. Property tax bills can vary significantly, with the 25th percentile at $324 and the 75th percentile at $2,254. The highest median tax bill in the area is $1,021, which is aligned with the national median property tax rate of 0.99%. This means that homeowners in Nodaway may experience property tax bills that range widely, impacting their annual financial planning. Understanding these factors can help homeowners anticipate their property tax obligations and manage their budgets more effectively.
Average Nodaway Tax Bill
$1,021
Average Adams County Tax Bill
$1,577
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Nodaway, Adams County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50857 | $126 | $324 | $1,021 | $2,254 | $3,386 |
Source: Ownwell