Imogene, Mills County, Iowa Property Taxes
The median property tax rate in Imogene, IA is 1.18%, slightly higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With the median home value in Imogene, the typical annual property tax bill reaches $2,689, closely aligning with the national median of $2,690. Property taxes in Imogene 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 Imogene'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 Imogene 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
Imogene, Mills County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$2,531
$2,349
Ownwell’s Imogene Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Imogene with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Imogene 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 Imogene, Mills County, Iowa
Property taxes in Imogene, Iowa, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Imogene is 1.18%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Imogene set these rates annually, and they can vary significantly across different neighborhoods. Each year, Imogene 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 Imogene's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51645 zip code has the highest median property tax rate of 1.18%, while the 51645 zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Imogene provides valuable insights into the varying tax landscape across Mills County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Imogene Tax Rate
1.18%
Average Mills County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Imogene, Mills County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51645 | 1.06% | 1.09% | 1.18% | 1.25% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Imogene, Mills County, Iowa
In Imogene, 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 Mills 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 Imogene, 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 Imogene helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 51645 has the highest and lowest median tax bill at $2,689.
Property Tax Assessment Values Across Imogene, Mills County, Iowa
Source: Ownwell
$99,254
$170,245
$241,236
Average Imogene Assessed Value
$214,483
Average Mills County Assessed Value
$206,856
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Imogene, Mills County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51645 | $144,210 | $170,814 | $214,483 | $253,380 | $308,211 |
Source: Ownwell
Property Tax Bills Across Imogene, Mills County, Iowa
In Imogene, located in Mills County, IA, property tax bills are calculated based on the assessed value of a home. The tax rate, which in this region aligns with the national median of 0.99%, is applied to the assessed value to determine the annual tax bill. Homeowners in Imogene can expect their tax bills to vary significantly depending on the value of their property. For instance, the 25th percentile tax bill is $1,932, while the 75th percentile tax bill reaches $3,094. The highest median tax bill in the area is recorded at $2,689. Several factors influence the tax bill, including the market value of the property, local tax rates, and any applicable exemptions or deductions. The assessed value is typically a percentage of the market value, which is then multiplied by the local tax rate. This calculation directly impacts homeowners, as higher-valued properties result in higher tax bills. Understanding these factors can help homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Imogene Tax Bill
$2,689
Average Mills County Tax Bill
$3,154
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Imogene, Mills County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51645 | $1,445 | $1,932 | $2,689 | $3,094 | $3,623 |
Source: Ownwell