Mc Intire, Mitchell County, Iowa Property Taxes
The median property tax rate in MC INTIRE, IA is 1.00%, slightly above the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in MC INTIRE at $94,285, the typical annual property tax bill amounts to $952, which is below the national median of $2,690. Property taxes in MC INTIRE are determined based on the assessed value of the property, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating MC INTIRE's property tax system, exploring potential exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of MC INTIRE or another part of the city, understanding the local property tax system can provide significant benefits for both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Intire, Mitchell County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$943
$875
Ownwell's MC INTIRE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC INTIRE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC INTIRE 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 Mc Intire, Mitchell County, Iowa
Property taxes in MC INTIRE, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MC INTIRE is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within MC INTIRE set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC INTIRE 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 MC INTIRE's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 50455 has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with MC INTIRE provides valuable insights into the varying tax landscape across Mitchell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Intire Tax Rate
1.00%
Average Mitchell County Tax Rate
1.25%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Intire, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50455 | 0.83% | 0.92% | 1.00% | 1.15% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Mc Intire, Mitchell County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in MC INTIRE, 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 local authorities 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 MC INTIRE, 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 MC INTIRE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $952 in zip code 50455, while the lowest median tax bill is also $952 in the same zip code.
Property Tax Assessment Values Across Mc Intire, Mitchell County, Iowa
Source: Ownwell
$60,730
$195,478
$330,225
Average Mc Intire Assessed Value
$94,285
Average Mitchell County Assessed Value
$146,070
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Intire, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50455 | $12,955 | $37,952 | $94,285 | $179,478 | $323,730 |
Source: Ownwell
Property Tax Bills Across Mc Intire, Mitchell County, Iowa
In Mc Intire, located in Mitchell County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is intended to reflect the market value of the property. Homeowners in this city experience a range of property tax bills, with the 25th percentile paying around $358, while those in the 75th percentile pay approximately $1,788. At the higher end, the 90th percentile sees tax bills reaching up to $3,351. These tax bills are influenced by several factors, including property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Mc Intire's property tax rates can significantly impact homeowners' annual expenses. For instance, the highest median tax bill in the area is $952, which can be a substantial financial consideration for residents. Understanding these factors helps homeowners anticipate their tax obligations and manage their budgets effectively.
Average Mc Intire Tax Bill
$952
Average Mitchell County Tax Bill
$1,776
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Intire, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50455 | $121 | $358 | $952 | $1,788 | $3,351 |
Source: Ownwell