Villisca, Montgomery County, Iowa Property Taxes
The median property tax rate in Villisca, IA is 1.74%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Villisca at $71,730, the typical annual property tax bill reaches $1,252, which is below the national median of $2,690. Property taxes in Villisca are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Villisca'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 Villisca or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Villisca, Montgomery County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$1,248
$1,158
Ownwell’s Villisca Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Villisca. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Villisca to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed information, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is the figure assigned by Montgomery County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Villisca, Montgomery County, Iowa
Property taxes in Villisca, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villisca is 1.74%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Villisca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villisca 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 Villisca's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50864 has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with Villisca provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Villisca Tax Rate
1.74%
Average Montgomery County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Villisca, Montgomery County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | 1.09% | 1.33% | 1.74% | 2.01% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Villisca, Montgomery County, Iowa
In Villisca, 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 Montgomery 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 Villisca, 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. For instance, the median home price in Villisca is $71,730, with tax bills ranging from $592 at the 25th percentile to $3,024 at the 90th percentile. The zip code 50864 has both the highest and lowest median tax bill at $1,252. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Villisca, Montgomery County, Iowa
Source: Ownwell
$14,640
$100,523
$186,405
Average Villisca Assessed Value
$71,730
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 Villisca, Montgomery County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | $8,384 | $28,415 | $71,730 | $128,765 | $205,030 |
Source: Ownwell
Property Tax Bills Across Villisca, Montgomery County, Iowa
Property tax bills in Villisca, located in Montgomery County, IA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Villisca can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $592, while at the 75th percentile, it rises to $2,096, and at the 90th percentile, it can reach up to $3,024. These figures indicate that while some homeowners might pay relatively low property taxes, others could face much higher bills. The highest median tax bill in Villisca is $1,252 in the 50864 zip code, which is higher than the national median property tax rate of 0.99%. These variations can affect homeowners' financial planning and housing affordability, making it crucial for them to understand how their property taxes are determined and what factors influence their annual tax bills.
Average Villisca Tax Bill
$1,252
Average Montgomery County Tax Bill
$1,611
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Villisca, Montgomery County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50864 | $219 | $592 | $1,252 | $2,096 | $3,024 |
Source: Ownwell