Mount Auburn, Benton County, Iowa Property Taxes
The median property tax rate in Mount Auburn, IA is 1.13%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $131,400 in Mount Auburn, the typical annual property tax bill amounts to $1,400, falling below the national median of $2,690. Property taxes in Mount Auburn are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Mount Auburn'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 Mount Auburn or another part of Benton County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Auburn, Benton County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,485
$1,378
Ownwell’s Mount Auburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Auburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Auburn 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 Mount Auburn, Benton County, Iowa
Property taxes in Mount Auburn, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Auburn is 1.13%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Mount Auburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Auburn 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 Mount Auburn's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52313 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Mount Auburn provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Auburn Tax Rate
1.13%
Average Benton County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Auburn, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52313 | 0.94% | 1.00% | 1.13% | 1.22% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Mount Auburn, Benton County, Iowa
In Mount Auburn, 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 Benton 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 Mount Auburn, 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 Mount Auburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52313 has both the highest and lowest median tax bill at $1,400, providing a benchmark for property tax expectations in the area.
Property Tax Assessment Values Across Mount Auburn, Benton County, Iowa
Source: Ownwell
$87,000
$236,925
$386,850
Average Mount Auburn Assessed Value
$131,400
Average Benton County Assessed Value
$183,200
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Auburn, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52313 | $23,780 | $61,800 | $131,400 | $241,200 | $359,500 |
Source: Ownwell
Property Tax Bills Across Mount Auburn, Benton County, Iowa
In Mount Auburn, located in Benton County, IA, property tax bills are determined by a combination of the assessed value of a home and the local tax rate. The assessed value is based on the market value of the property, which is periodically evaluated by county assessors. Homeowners in Mount Auburn can expect property tax bills to vary significantly, with the 25th percentile at $644 and the 75th percentile reaching $2,634. The highest median tax bill recorded in the area is $1,400, which is consistent across different zip codes. Several factors influence the final tax bill, including the property's size, location, and any improvements made. Additionally, local government budgets and school funding needs play a critical role in setting the tax rate. For homeowners, these property taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Mount Auburn's rates reflect the specific needs and values of the local area.
Average Mount Auburn Tax Bill
$1,400
Average Benton County Tax Bill
$2,460
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Auburn, Benton County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52313 | $299 | $644 | $1,400 | $2,634 | $4,638 |
Source: Ownwell