Miles, Jackson County, Iowa Property Taxes
The median property tax rate in Miles, 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 Miles, the typical annual property tax bill reaches $1,360, which is below the national median of $2,690. Property taxes in Miles are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Miles' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Miles or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Miles, Jackson County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,466
$1,361
Ownwell’s Miles Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miles with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miles 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 Miles, Jackson County, Iowa
Property taxes in Miles, Iowa, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Miles is 1.10%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Miles set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miles 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 Miles' effective property tax rate to other counties in Iowa and the national median. For comparison, the 52064 zip code 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 Miles provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Miles Tax Rate
1.10%
Average Jackson County Tax Rate
1.24%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miles, Jackson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52064 | 0.92% | 1.00% | 1.10% | 1.22% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Miles, Jackson County, Iowa
In MILES, 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 Jackson 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. Assessment notices in MILES 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 MILES helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in MILES is $133,300, with the highest median tax bill being $1,360 in the 52064 zip code.
Property Tax Assessment Values Across Miles, Jackson County, Iowa
Source: Ownwell
$80,900
$162,475
$244,050
Average Miles Assessed Value
$133,300
Average Jackson County Assessed Value
$157,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miles, Jackson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52064 | $32,130 | $76,025 | $133,300 | $202,475 | $290,250 |
Source: Ownwell
Property Tax Bills Across Miles, Jackson County, Iowa
In MILES, located in Jackson County, IA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property, which is determined through periodic assessments conducted by local authorities. Several factors influence the tax bill, including the home's market value, assessment ratio, and any applicable exemptions or deductions. For homeowners in MILES, the median home price stands at $133,300. Property tax bills can vary significantly, with the 25th percentile at $798 and the 75th percentile reaching $2,171. At the 90th percentile, homeowners might see bills as high as $3,655. Compared to the national median property tax rate of 0.99%, the tax rates in MILES can represent a substantial financial consideration for homeowners. Understanding these factors can help residents anticipate their annual property tax obligations and manage their finances more effectively.
Average Miles Tax Bill
$1,360
Average Jackson County Tax Bill
$1,948
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Miles, Jackson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52064 | $358 | $798 | $1,360 | $2,171 | $3,655 |
Source: Ownwell