Atlantic, Audubon County, Iowa Property Taxes
The median property tax rate in Atlantic, IA is 1.33%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Atlantic at $140,280, the typical annual property tax bill reaches $1,966, falling short of the national median of $2,690. Property taxes in Atlantic are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Atlantic'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 Atlantic 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
Atlantic, Audubon County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,866
$1,731
Ownwell’s Atlantic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atlantic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atlantic 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 Atlantic, Audubon County, Iowa
Property taxes in Atlantic, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atlantic is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Atlantic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atlantic 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 Atlantic's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50022 zip code has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Atlantic provides valuable insights into the varying tax landscape across Audubon, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atlantic Tax Rate
1.33%
Average Audubon County Tax Rate
1.32%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atlantic, Audubon County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50022 | 0.96% | 1.08% | 1.33% | 1.44% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Atlantic, Audubon County, Iowa
In Atlantic, 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 local appraisal district 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 Atlantic, 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 Atlantic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,966, found in zip code 50022.
Property Tax Assessment Values Across Atlantic, Audubon County, Iowa
Source: Ownwell
$55,025
$113,688
$172,350
Average Atlantic Assessed Value
$140,280
Average Audubon County Assessed Value
$103,200
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atlantic, Audubon County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50022 | $60,205 | $114,212 | $140,280 | $204,305 | $250,815 |
Source: Ownwell
Property Tax Bills Across Atlantic, Audubon County, Iowa
In Atlantic, IA, located in Audubon County, property tax bills are calculated based on the assessed value of a property. The assessment is determined by local assessors who evaluate various factors, including the property's market value, location, and physical characteristics. Once the assessed value is established, the local tax rate, known as the millage rate, is applied to calculate the annual tax bill. For homeowners in Atlantic, the median home price stands at $140,280. Tax bills can vary significantly, with the 25th percentile at $1,434 and the 75th percentile at $2,569. For those at the higher end, the 90th percentile tax bill reaches $3,672. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Atlantic face a range of tax obligations that can influence their overall cost of living and financial planning.
Average Atlantic Tax Bill
$1,966
Average Audubon County Tax Bill
$1,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Atlantic, Audubon County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50022 | $681 | $1,434 | $1,966 | $2,569 | $3,672 |
Source: Ownwell