Oskaloosa, Iowa Property Taxes
The median property tax rate in Oskaloosa, IA is 1.72%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Oskaloosa, the typical annual property tax bill reaches $2,016, which is below the national median of $2,690. Property taxes in Oskaloosa 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 Oskaloosa’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 Oskaloosa or another part of Mahaska County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oskaloosa, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$2,119
Ownwell’s Oskaloosa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oskaloosa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oskaloosa 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 Oskaloosa, Iowa
Property taxes in Oskaloosa, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oskaloosa is 1.72%, significantly higher than the U.S. national median of 0.99%. Local government entities within Oskaloosa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oskaloosa 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 Oskaloosa's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52577 zip code has the highest median property tax rate of 1.72%, while the same zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Oskaloosa provides valuable insights into the varying tax landscape across Mahaska County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oskaloosa Tax Rate
1.72%
Average Mahaska County Tax Rate
1.54%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oskaloosa, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52577 | 1.09% | 1.36% | 1.72% | 1.93% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Oskaloosa, Iowa
In Oskaloosa, 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 Mahaska 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 Oskaloosa, 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 Oskaloosa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oskaloosa is $123,195, with property tax bills ranging from $1,326 at the 25th percentile to $4,277 at the 90th percentile. The highest and lowest median tax bills, both at $2,016, are found in the 52577 zip code.
Average Oskaloosa Assessed Value
$123,195
Average Mahaska County Assessed Value
$125,860
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oskaloosa, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52577 | $42,660 | $74,545 | $123,195 | $204,422 | $309,896 |
Source: Ownwell
Property Tax Bills Across Oskaloosa, Iowa
In Oskaloosa, located in Mahaska County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $123,195, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Several factors influence the final tax bill, including the property's location, improvements, and any applicable exemptions. In Mahaska County, tax bills can range significantly, with the 25th percentile tax bill at $1,326 and the 75th percentile tax bill reaching $3,048. The highest median tax bill in the area is $2,016, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in Oskaloosa.
Average Oskaloosa Tax Bill
$2,016
Average Mahaska County Tax Bill
$1,886
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Oskaloosa, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52577 | $784 | $1,326 | $2,016 | $3,048 | $4,277 |
Source: Ownwell