South Amana, Iowa Property Taxes
The median property tax rate in South Amana, IA is 1.31%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $189,870 in South Amana, the typical annual property tax bill is approximately $2,369, slightly below the national median of $2,690. Property taxes in South Amana are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding South Amana'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 South Amana or another part of Iowa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Amana, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,487
Ownwell’s South Amana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Amana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Amana 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 South Amana, Iowa
Property taxes in South Amana, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Amana is 1.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Amana set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Amana 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 South Amana's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52334 zip code has the highest median property tax rate of 1.31%, while the 52334 zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with South Amana provides valuable insights into the varying tax landscape across Iowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Amana Tax Rate
1.31%
Average Iowa County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52334 | 1.13% | 1.20% | 1.31% | 1.39% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across South Amana, Iowa
In South Amana, 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 South Amana, 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. For instance, the median home price in South Amana is $189,870, with median tax bills ranging significantly. The highest median tax bill is $2,369 in the 52334 zip code, while the lowest median tax bill is also $2,369 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Amana Assessed Value
$189,870
Average Iowa County Assessed Value
$157,090
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52334 | $13,387 | $110,045 | $189,870 | $246,810 | $329,869 |
Source: Ownwell
Property Tax Bills Across South Amana, Iowa
In South Amana, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $189,870, homeowners can expect varying tax bills. The 25th percentile tax bill stands at approximately $1,456, while the 75th percentile reaches around $3,144. At the higher end, the 90th percentile tax bill can go up to $4,030. Factors such as property location, improvements, and market conditions are considered during the assessment process. Compared to the national median property tax rate of 0.99%, South Amana's rates can significantly impact homeowners, particularly those with higher-valued properties. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average South Amana Tax Bill
$2,369
Average Iowa County Tax Bill
$2,134
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across South Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52334 | $197 | $1,456 | $2,369 | $3,144 | $4,030 |
Source: Ownwell