Castana, Iowa Property Taxes
The median property tax rate in Castana, IA is 1.09%, slightly above the national median of 0.99% but below the Iowa state median of 1.54%. With a median home value in Castana of $46,457, the typical annual property tax bill is $501, which is significantly lower than the national median of $2,690. Property taxes in Castana are calculated based on the assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Castana'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 Castana or another part of Monona County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Castana, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$506
Ownwell’s Castana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castana 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 Castana, Iowa
Property taxes in Castana, Iowa, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Castana is 1.09%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Castana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castana 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 Castana's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51010 has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Castana provides valuable insights into the varying tax landscape across Monona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castana Tax Rate
1.09%
Average Monona County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51010 | 0.92% | 0.95% | 1.09% | 1.35% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Castana, Iowa
In Castana, 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 Monona 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 Castana, 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 Castana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 51010 has both the highest and lowest median tax bill at $501.
Average Castana Assessed Value
$46,457
Average Monona County Assessed Value
$94,166
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51010 | $1,714 | $11,321 | $46,457 | $120,320 | $227,675 |
Source: Ownwell
Property Tax Bills Across Castana, Iowa
In Castana, Monona 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 generate the annual property tax bill. Factors influencing the tax bill include the property's location, size, and any applicable exemptions or deductions. For instance, the median home price in Castana is $46,457, and property tax bills can vary significantly. Homeowners at the 25th percentile pay around $146 annually, while those at the 75th percentile see bills closer to $1,337. At the 90th percentile, the tax bill can reach up to $2,570. Notably, the highest median tax bill in the area is $501, which is relatively low compared to the national median property tax rate of 0.99%. These variances affect homeowners differently, with higher-valued properties incurring more substantial tax obligations, impacting their overall financial planning and homeownership costs.
Average Castana Tax Bill
$501
Average Monona County Tax Bill
$1,186
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Castana, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51010 | $26 | $146 | $501 | $1,337 | $2,570 |
Source: Ownwell