Red Oak, Page County, Iowa Property Taxes
The median property tax rate in Red Oak, IA is 1.19%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Red Oak at $186,540, the typical annual property tax bill reaches $2,236, slightly below the national median of $2,690. Property taxes in Red Oak 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 Red Oak'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 Red Oak 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
Red Oak, Page County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$2,220
$2,060
Ownwell’s Red Oak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Oak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Oak 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 Red Oak, Page County, Iowa
Property taxes in Red Oak, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Oak is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within Red Oak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Oak 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 Red Oak's effective property tax rate to other counties in Iowa and the national median. For comparison, the highest and lowest median property tax rates in Red Oak both stand at 1.19%, providing a consistent tax landscape within the area. Understanding how these rates compare with other regions in Page County offers valuable insights into the varying tax landscape across the county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Oak Tax Rate
1.19%
Average Page County Tax Rate
1.56%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Oak, Page County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51566 | 1.08% | 1.13% | 1.19% | 1.21% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Red Oak, Page County, Iowa
In Red Oak, 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 Page 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 Red Oak, 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 Red Oak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 51566, with a median tax bill of $2,236.
Property Tax Assessment Values Across Red Oak, Page County, Iowa
Source: Ownwell
$20,640
$103,590
$186,540
Average Red Oak Assessed Value
$186,540
Average Page County Assessed Value
$100,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Oak, Page County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51566 | $76,230 | $117,600 | $186,540 | $298,960 | $345,190 |
Source: Ownwell
Property Tax Bills Across Red Oak, Page County, Iowa
In RED OAK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in RED OAK, the median home price is $186,540. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,128 and the 75th percentile reaching $3,344. At the 90th percentile, homeowners might see tax bills around $3,988. These figures highlight the range of property tax burdens in the area, which can impact household budgets and overall financial planning. Compared to the national median property tax rate of 0.99%, homeowners in RED OAK may experience varying degrees of tax obligations depending on their property's assessed value.
Average Red Oak Tax Bill
$2,236
Average Page County Tax Bill
$1,497
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Oak, Page County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51566 | $916 | $1,128 | $2,236 | $3,344 | $3,988 |
Source: Ownwell