Rhodes, Marshall County, Iowa Property Taxes
The median property tax rate in Rhodes, IA is 1.11%, higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Rhodes, the typical annual property tax bill reaches $1,496, which is below the national median of $2,690. Property taxes in Rhodes are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rhodes'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 Rhodes 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
Rhodes, Marshall County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,575
$1,461
Ownwell’s Rhodes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rhodes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rhodes 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 Rhodes, Marshall County, Iowa
Property taxes in Rhodes, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rhodes is 1.11%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Rhodes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rhodes 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 Rhodes' effective property tax rate to other counties in Iowa and the national median. For comparison, the 50234 zip code has both the highest and lowest median property tax rate of 1.11%. Understanding how these cities compare with Rhodes provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rhodes Tax Rate
1.11%
Average Marshall County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rhodes, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50234 | 0.77% | 0.89% | 1.11% | 1.27% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Rhodes, Marshall County, Iowa
In Rhodes, 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 Marshall 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 Rhodes, 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 Rhodes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50234 with a tax bill of $1496, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Rhodes, Marshall County, Iowa
Source: Ownwell
$31,865
$126,573
$221,280
Average Rhodes Assessed Value
$141,850
Average Marshall County Assessed Value
$128,210
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rhodes, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50234 | $54,338 | $88,920 | $141,850 | $281,820 | $400,962 |
Source: Ownwell
Property Tax Bills Across Rhodes, Marshall County, Iowa
In Rhodes, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in the area is $141,850. Property taxes are influenced by various factors, including the property's assessed value, local levies, and any applicable exemptions. Homeowners in Rhodes pay a median property tax bill of $1,496, which is higher than the national median property tax rate of 0.99%. The tax bill can vary significantly, with the 25th percentile at $823 and the 75th percentile reaching $3,189. At the higher end, the 90th percentile tax bill can be as much as $5,278. These variations are due to differences in property values and specific local tax rates. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly. High property taxes can impact affordability, making it essential for homeowners to stay informed about their local tax rates and any potential exemptions.
Average Rhodes Tax Bill
$1,496
Average Marshall County Tax Bill
$1,909
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Rhodes, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50234 | $538 | $823 | $1,496 | $3,189 | $5,278 |
Source: Ownwell