Amana, Iowa Property Taxes
The median property tax rate in Amana, IA is 1.42%, considerably higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With the median home value in Amana at $276,200, the typical annual property tax bill reaches $3,784, significantly exceeding the national median of $2,690. Property taxes in Amana are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding 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 Amana or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amana, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$3,922
Ownwell’s Amana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 Amana, Iowa
Property taxes in Amana, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amana is 1.42%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Amana set these rates annually, and they can vary significantly across different neighborhoods. Each year, 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 Amana's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52203 zip code has the highest median property tax rate of 1.42%, while the 52203 zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Amana provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amana Tax Rate
1.42%
Average Johnson County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52203 | 1.06% | 1.27% | 1.42% | 1.52% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Amana, Iowa
In 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 Johnson County 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 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. Being aware of these valuation processes in Amana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 52203, with a median tax bill of $3,784.
Average Amana Assessed Value
$276,200
Average Johnson County Assessed Value
$229,790
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52203 | $143,760 | $202,675 | $276,200 | $383,800 | $544,210 |
Source: Ownwell
Property Tax Bills Across Amana, Iowa
In Amana, located in Johnson County, IA, property tax bills are calculated based on the assessed value of a home. This assessment is determined by the local assessor's office, which evaluates the property's market value. The tax rate, set by local government entities, is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements or modifications made to the home. In Amana, the median home price stands at $276,200. Homeowners at the 25th percentile can expect a tax bill around $2,848, while those at the 75th percentile might see bills as high as $5,156. For the top 10% of property values, tax bills can reach up to $6,699. These tax bills have a significant impact on homeowners, influencing monthly mortgage payments and overall affordability. Comparing this to the national median property tax rate of 0.99%, residents in Amana may find their tax rates considerably impactful depending on their property’s assessed value.
Average Amana Tax Bill
$3,784
Average Johnson County Tax Bill
$3,786
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Amana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52203 | $1,948 | $2,848 | $3,784 | $5,156 | $6,699 |
Source: Ownwell