Avery, Iowa Property Taxes
The median property tax rate in Avery, IA is 1.13%, notably higher than the national median of 0.99%, yet lower than the Iowa state median of 1.54%. With the median home value in Avery, the typical annual property tax bill amounts to $114, significantly below the national median of $2,690. Property taxes in Avery are calculated based on the assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Avery'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 Avery or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Avery, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$117
Ownwell’s Avery Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Avery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avery to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Avery, Iowa
Property taxes in Avery, Iowa, play a crucial role in funding key local services, including public schools, road maintenance, and emergency services. The median tax rate in Avery stands at 1.13%, which is notably higher than the national median of 0.99%. Local government entities within Avery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avery 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. For comparison, Avery's effective property tax rate is consistent across the city, with no variation in different zip codes. Understanding how Avery's property tax rate compares to the national median provides valuable insights into the tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to other areas.
Average Avery Tax Rate
1.13%
Average Monroe County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avery, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52531 | 0.93% | 1.08% | 1.13% | 1.23% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Avery, Iowa
In Avery, 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 Monroe 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 Avery, 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 Avery 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 $114, found in the 52531 zip code, which also has the lowest median tax bill at $114.
Average Avery Assessed Value
$10,340
Average Monroe County Assessed Value
$86,560
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Avery, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52531 | $3,790 | $6,097 | $10,340 | $22,680 | $28,677 |
Source: Ownwell
Property Tax Bills Across Avery, Iowa
In Avery, located in Monroe County, IA, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value as determined by the county assessor. Various factors influence this assessment, including property size, location, and market conditions. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Avery, the tax bills can vary significantly. The 25th percentile tax bill is $64, while the 75th percentile tax bill reaches $301. For those at the 90th percentile, the tax bill can be as high as $400. The median home price in Avery is $10,340, and the property tax rate in Monroe County is relatively low compared to the national median property tax rate of 0.99%. This system ensures that homeowners contribute to local services and infrastructure based on the value of their property, impacting their overall cost of living and financial planning.
Average Avery Tax Bill
$114
Average Monroe County Tax Bill
$1,330
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Avery, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52531 | $46 | $64 | $114 | $301 | $400 |
Source: Ownwell