Middletown, Iowa Property Taxes
The median property tax rate in Middletown, IA is 1.41%, 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 $123,100 in Middletown, the typical annual property tax bill amounts to $1,696, which is below the national median of $2,690. Property taxes in Middletown 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. By understanding Middletown's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Middletown or another part of the city, grasping the local property tax system will provide substantial financial benefits.
Last Updated June 14, 2024
Middletown, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$1,736
Ownwell’s Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middletown 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 Middletown, Iowa
Property taxes in Middletown, Iowa, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middletown is 1.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middletown 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 Middletown's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52638 zip code has the highest median property tax rate of 1.41%, while the 52638 zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Middletown provides valuable insights into the varying tax landscape across Des Moines County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middletown Tax Rate
1.41%
Average Des Moines County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middletown, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52638 | 1.30% | 1.36% | 1.41% | 1.49% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Middletown, Iowa
In Middletown, 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 Des Moines 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 Middletown, 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 Middletown 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 52638, with a value of $1,696, while the lowest median tax bill is also in 52638, reflecting the same value.
Average Middletown Assessed Value
$123,100
Average Des Moines County Assessed Value
$105,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middletown, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52638 | $36,440 | $78,775 | $123,100 | $197,950 | $250,340 |
Source: Ownwell
Property Tax Bills Across Middletown, Iowa
In Middletown, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Middletown is $123,100, and homeowners can expect their property tax bills to vary depending on the assessed value of their property and the specific tax rate applied. Various factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the tax bill at the 25th percentile is $1,006, while it rises to $2,818 at the 75th percentile and reaches $3,603 at the 90th percentile. These variations highlight how different factors can significantly impact what homeowners owe annually. Comparatively, Middletown's property tax rates can be contrasted with the national median property tax rate of 0.99%. Understanding these factors helps homeowners in Middletown anticipate their annual property tax obligations and plan their finances accordingly.
Average Middletown Tax Bill
$1,696
Average Des Moines County Tax Bill
$1,606
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Middletown, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52638 | $418 | $1,006 | $1,696 | $2,818 | $3,603 |
Source: Ownwell