Soldier, Iowa Property Taxes
The median property tax rate in Soldier, IA is 1.24%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Soldier at $72,137, the typical annual property tax bill amounts to $974, falling below the national median of $2,690. Property taxes in Soldier are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. By understanding Soldier's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Soldier or elsewhere in Monona County, a grasp of the local property tax system is essential for managing costs effectively.
Last Updated June 14, 2024
Soldier, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$894
Ownwell’s Soldier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Soldier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Soldier 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 Soldier, Iowa
Property taxes in Soldier, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Soldier is 1.24%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Soldier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Soldier 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 Soldier's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51572 zip code has the highest median property tax rate of 1.24%, while the 51572 zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Soldier 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 Soldier Tax Rate
1.24%
Average Monona County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Soldier, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51572 | 0.88% | 1.01% | 1.24% | 1.62% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Soldier, Iowa
In Soldier, 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 Soldier, 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 Soldier helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $974.00, with the zip code 51572.
Average Soldier Assessed Value
$72,137
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 Soldier, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51572 | $10,813 | $29,124 | $72,137 | $138,634 | $191,771 |
Source: Ownwell
Property Tax Bills Across Soldier, Iowa
In Soldier, Monona County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Soldier is $72,137. The property tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence this calculation, including the home's market value, any applicable exemptions, and the local tax rate. For instance, in Soldier, the tax bills range significantly: the 25th percentile tax bill is $428, while the 75th percentile tax bill is $1,498, and the 90th percentile tax bill reaches $2,090. This variation highlights how different property values and exemptions can affect the final tax amount. Compared to the national median property tax rate of 0.99%, Soldier's tax rates are reflective of local economic conditions. Homeowners in Soldier should be aware of these factors as they can significantly impact annual expenses, influencing decisions on property investments and financial planning.
Average Soldier Tax Bill
$974
Average Monona County Tax Bill
$1,186
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Soldier, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51572 | $90 | $428 | $974 | $1,498 | $2,090 |
Source: Ownwell