Ute, Monona County, Iowa Property Taxes
The median property tax rate in Ute, Iowa is 1.33%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Ute at $64,676, the typical annual property tax bill is $912, falling below the national median of $2,690. Property taxes in Ute are calculated based on the assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ute'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 Ute or elsewhere in Monona County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ute, Monona County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$860
$798
Ownwell’s Ute Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ute with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ute 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 Ute, Monona County, Iowa
Property taxes in Ute, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ute is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ute set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ute 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 Ute's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51060 has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these areas compare with Ute 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 Ute Tax Rate
1.33%
Average Monona County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ute, Monona County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51060 | 0.93% | 1.08% | 1.33% | 1.54% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Ute, Monona County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ute, 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 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 Ute, 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 Ute helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ute is $912 in the 51060 zip code, while the lowest median tax bill is also $912 in the same zip code.
Property Tax Assessment Values Across Ute, Monona County, Iowa
Source: Ownwell
$34,694
$105,349
$176,003
Average Ute Assessed Value
$64,676
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 Ute, Monona County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51060 | $17,445 | $38,014 | $64,676 | $112,284 | $191,201 |
Source: Ownwell
Property Tax Bills Across Ute, Monona County, Iowa
In Ute, located in Monona County, IA, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the local assessor's office and is a percentage of the home's market value. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to determine the annual property tax bill. For homeowners in Ute, the median home price is $64,676. Property tax bills in the city can vary significantly, with the 25th percentile tax bill at $491 and the 75th percentile reaching $1,356. The 90th percentile tax bill is $2,102, reflecting the higher end of the spectrum. The highest and lowest median tax bills in the area are both $912, indicating a relatively consistent tax rate. Compared to the national median property tax rate of 0.99%, Ute's property tax bills can have a considerable impact on homeowners, influencing their overall housing costs and financial planning.
Average Ute Tax Bill
$912
Average Monona County Tax Bill
$1,186
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Ute, Monona County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51060 | $205 | $491 | $912 | $1,356 | $2,102 |
Source: Ownwell