Montgomery County, Iowa Property Taxes
The median property tax rate in Montgomery County is 1.71%, which is significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Montgomery County at $96,860, the typical annual property tax bill reaches $1,611, which is still below the national median of $2,690. Property taxes in Montgomery County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Montgomery County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Red Oak or another part of Montgomery County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montgomery County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$1,656
$1,537
Ownwell’s Montgomery County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Montgomery County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Montgomery County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Montgomery County, Iowa
Property taxes in Montgomery County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Montgomery County is 1.71%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Montgomery County set these rates annually, and they can vary significantly between different areas within the county. Each year, Montgomery County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Grant has one of the higher property tax rates in Iowa at 2.06%, while the city of Nodaway boasts one of the lowest at 1.14%. Analyzing how Montgomery County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Montgomery County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Corning | N/A | N/A | N/A | N/A | N/A |
| Elliott | 1.04% | 1.21% | 1.46% | 1.72% | 1.91% |
| Emerson | 1.04% | 1.12% | 1.23% | 1.50% | 1.62% |
| Essex | N/A | N/A | N/A | N/A | N/A |
| Grant | 1.13% | 1.48% | 2.06% | 2.34% | 2.49% |
| Henderson | 1.01% | 1.17% | 1.32% | 1.42% | 1.50% |
| Imogene | N/A | N/A | N/A | N/A | N/A |
| Macedonia | N/A | N/A | N/A | N/A | N/A |
| Nodaway | N/A | N/A | N/A | N/A | N/A |
| Red Oak | 1.17% | 1.45% | 1.81% | 2.00% | 2.23% |
| Stanton | 1.00% | 1.12% | 1.34% | 1.49% | 1.62% |
| Villisca | 1.09% | 1.33% | 1.74% | 2.01% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery County, Iowa
In Montgomery County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Montgomery County Appraisal District. The assessed value, however, 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. Assessment notices in Montgomery County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Nodaway has the highest median tax bill at $3,264, whereas Grant has the lowest at $294. Being aware of these valuation processes in Montgomery County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Montgomery County Assessed Value
$96,860
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montgomery County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Corning | N/A | N/A | N/A | N/A | N/A |
| Elliott | $7,592 | $32,152 | $88,630 | $137,798 | $232,072 |
| Emerson | $49,142 | $122,490 | $172,190 | $227,480 | $344,452 |
| Essex | N/A | N/A | N/A | N/A | N/A |
| Grant | $2,178 | $4,795 | $14,640 | $33,665 | $48,791 |
| Henderson | $81,183 | $127,658 | $186,405 | $240,615 | $307,281 |
| Imogene | N/A | N/A | N/A | N/A | N/A |
| Macedonia | N/A | N/A | N/A | N/A | N/A |
| Nodaway | N/A | N/A | N/A | N/A | N/A |
| Red Oak | $19,396 | $51,358 | $99,930 | $163,078 | $248,561 |
| Stanton | $29,900 | $78,420 | $129,270 | $198,000 | $295,200 |
| Villisca | $8,384 | $28,415 | $71,730 | $128,765 | $205,030 |
Source: Ownwell
Property Tax Bills Across Montgomery County, Iowa
In Montgomery 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 determine the annual tax bill. Several factors influence the assessed value, including the home's market value, property condition, and any improvements made. For example, the median home price in Montgomery County is $96,860. Homeowners in Montgomery County experience a range of property tax bills. The 25th percentile tax bill is around $836, while the 75th percentile reaches $2,580, and the 90th percentile can go up to $3,902. These figures highlight the variability in tax bills based on property value and location within the county. Comparatively, the national median property tax rate is 0.99%, making Montgomery County's tax bills relatively moderate. Higher tax bills, such as the $3,264 median in Nodaway, reflect higher property values or different local tax rates, while Grant has the lowest median tax bill at $294, indicating more affordable property values.
Average Montgomery County Tax Bill
$1,611
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Corning | N/A | N/A | N/A | N/A | N/A |
| Elliott | $170 | $648 | $1,306 | $2,062 | $2,796 |
| Emerson | $455 | $1,444 | $2,218 | $3,090 | $4,455 |
| Essex | N/A | N/A | N/A | N/A | N/A |
| Grant | $42 | $82 | $294 | $532 | $901 |
| Henderson | $1,163 | $1,553 | $2,394 | $2,990 | $3,584 |
| Imogene | N/A | N/A | N/A | N/A | N/A |
| Macedonia | N/A | N/A | N/A | N/A | N/A |
| Nodaway | N/A | N/A | N/A | N/A | N/A |
| Red Oak | $423 | $910 | $1,751 | $2,778 | $4,173 |
| Stanton | $628 | $1,078 | $1,717 | $2,600 | $3,909 |
| Villisca | $219 | $592 | $1,252 | $2,096 | $3,024 |
Source: Ownwell