Monona, Allamakee County, Iowa Property Taxes
The median property tax rate in Monona, IA is 1.10%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Monona at $238,500, the typical annual property tax bill reaches $2,696, just above the national median of $2,690. Property taxes in Monona are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Monona'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 Monona 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
Monona, Allamakee County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$2,624
$2,435
Ownwell’s Monona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monona 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 Monona, Allamakee County, Iowa
Property taxes in Monona, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monona is 1.10%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Monona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monona 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 Monona's effective property tax rate to other counties in Iowa and the national median. For comparison, the ZIP code 52159 has the highest median property tax rate of 1.10%, while the same ZIP code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Monona provides valuable insights into the varying tax landscape across Allamakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monona Tax Rate
1.10%
Average Allamakee County Tax Rate
1.22%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monona, Allamakee County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52159 | 0.88% | 0.98% | 1.10% | 1.22% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Monona, Allamakee County, Iowa
In Monona, 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 Allamakee 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 Monona, 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 Monona is $238,500, with tax bills ranging from $1,766 at the 25th percentile to $4,027 at the 75th percentile. The 90th percentile tax bill is $5,460. Notably, the highest and lowest median tax bills are both $2,696 in the 52159 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Monona, Allamakee County, Iowa
Source: Ownwell
$107,600
$173,050
$238,500
Average Monona Assessed Value
$238,500
Average Allamakee County Assessed Value
$156,300
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monona, Allamakee County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52159 | $73,620 | $158,250 | $238,500 | $335,850 | $436,520 |
Source: Ownwell
Property Tax Bills Across Monona, Allamakee County, Iowa
In Monona, located in Allamakee County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Monona is $238,500, and with a property tax rate of 0.99%, the national median, homeowners can expect a tax bill around $2,363 annually. However, actual tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,766, while at the 75th percentile, it reaches $4,027. The 90th percentile sees tax bills as high as $5,460. Factors influencing these variations include property improvements, neighborhood developments, and changes in local government budgets. Homeowners in Monona should be aware of these factors, as they can significantly impact their annual property tax obligations. Understanding how these elements interact helps homeowners better anticipate their financial commitments and plan accordingly.
Average Monona Tax Bill
$2,696
Average Allamakee County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Monona, Allamakee County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52159 | $887 | $1,766 | $2,696 | $4,027 | $5,460 |
Source: Ownwell