Moneta, Iowa Property Taxes
The median property tax rate in Moneta, IA is 0.61%, notably lower than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Moneta, the typical annual property tax bill reaches $16, significantly below the national median of $2,690. Property taxes in Moneta 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 Moneta'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 Moneta or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moneta, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$16
Ownwell’s Moneta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moneta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moneta 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 Moneta, Iowa
Property taxes in Moneta, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moneta is 1.55%, significantly higher than both the Iowa state median of 1.43% and the U.S. national median of 0.99%. Local government entities within Moneta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moneta 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 Moneta's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51346 zip code has the highest median property tax rate of 1.55%, while the same 51346 zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Moneta provides valuable insights into the varying tax landscape across O'Brien County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moneta Tax Rate
0.61%
Average O'brien County Tax Rate
1.20%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moneta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51346 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Moneta, Iowa
In Moneta, 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 O'Brien 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 Moneta, 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 Moneta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Moneta is $2,610, with the highest tax bills around $16 and the lowest also at $16, reflecting a consistent tax environment.
Average Moneta Assessed Value
$2,610
Average O'brien County Assessed Value
$120,840
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moneta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51346 | $2,610 | $2,610 | $2,610 | $2,610 | $2,610 |
Source: Ownwell
Property Tax Bills Across Moneta, Iowa
In Moneta, located in O'Brien County, IA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Factors such as the home's location, size, and condition can influence its assessed value. The local tax rate in Moneta is applied to this assessed value to calculate the annual property tax bill. For example, with a median home price of $2,610, homeowners in Moneta can expect to pay a relatively low property tax bill compared to the national median property tax rate of 0.99%. The tax bill remains consistent across different percentiles, with the 25th, 75th, and 90th percentiles all at $16. This low property tax rate can significantly benefit homeowners by reducing their annual expenses, making Moneta an attractive place for those looking to manage their housing costs effectively.
Average Moneta Tax Bill
$16
Average O'brien County Tax Bill
$1,404
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Moneta, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51346 | $16 | $16 | $16 | $16 | $16 |
Source: Ownwell