Mount Pleasant, Jefferson County, Iowa Property Taxes
The median property tax rate in Mount Pleasant, IA is 1.14%, 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 $140,200 in Mount Pleasant, the typical annual property tax bill is $1,542, which is below the national median of $2,690. Property taxes in Mount Pleasant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mount Pleasant'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 Pleasant or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Pleasant, Jefferson County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,598
$1,483
Ownwell’s Mount Pleasant Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mount Pleasant with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mount Pleasant to provide an estimate of your property tax bill. This valuable 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, taking into account any exemptions that may apply.
Property Tax Rates Across Mount Pleasant, Jefferson County, Iowa
Property taxes in Mount Pleasant, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Pleasant is 1.14%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Mount Pleasant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Pleasant 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 Pleasant's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52641 zip code has the highest median property tax rate of 1.14%, while the same zip code has the lowest median tax rate of 1.14%. Understanding how these cities compare with Mount Pleasant provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Pleasant Tax Rate
1.14%
Average Jefferson County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Pleasant, Jefferson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52641 | 1.04% | 1.08% | 1.14% | 1.22% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Mount Pleasant, Jefferson County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mount Pleasant, Iowa. 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 Jefferson 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 Pleasant, 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 Pleasant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $140,200, with tax bills ranging from $938 at the 25th percentile to $3,130 at the 90th percentile. The zip code 52641 has the highest and lowest median tax bills, both at $1,542.
Property Tax Assessment Values Across Mount Pleasant, Jefferson County, Iowa
Source: Ownwell
$102,800
$151,891
$200,982
Average Mount Pleasant Assessed Value
$140,200
Average Jefferson County Assessed Value
$132,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Pleasant, Jefferson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52641 | $37,500 | $75,000 | $140,200 | $158,800 | $259,620 |
Source: Ownwell
Property Tax Bills Across Mount Pleasant, Jefferson County, Iowa
Property tax bills in Mount Pleasant, IA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value as determined by the county assessor. Several factors influence this assessment, including the property's size, location, and condition. In Mount Pleasant, the median home price is $140,200. Homeowners can expect a wide range of tax bills, with the 25th percentile at $938 and the 75th percentile reaching $1,818. At the higher end, the 90th percentile tax bill can be as much as $3,130. Comparatively, the highest and lowest median tax bills in the area are both $1,542, reflecting a consistent rate within the zip code 52641. These property tax bills significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Given that the national median property tax rate is 0.99%, understanding local rates and assessments is crucial for financial planning and property investment decisions.
Average Mount Pleasant Tax Bill
$1,542
Average Jefferson County Tax Bill
$1,806
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Pleasant, Jefferson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52641 | $403 | $938 | $1,542 | $1,818 | $3,130 |
Source: Ownwell