Redding, Iowa Property Taxes
The median property tax rate in Redding, IA is 1.27%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $83,931 in Redding, the typical annual property tax bill amounts to $1,110, which is below the national median of $2,690. Property taxes in Redding are calculated based on the assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. By understanding Redding's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether residing in the heart of Redding or its surrounding areas, a thorough knowledge of the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Redding, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,066
Ownwell’s Redding Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redding with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redding 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 Redding, Iowa
Property taxes in Redding, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Redding is 1.27%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Redding set these rates annually, and they can vary across different neighborhoods. Each year, Redding 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, the 50860 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Redding provides valuable insights into the varying tax landscape across Ringgold County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Redding Tax Rate
1.27%
Average Ringgold County Tax Rate
1.44%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redding, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50860 | 1.00% | 1.17% | 1.27% | 1.42% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Redding, Iowa
In Redding, 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 Ringgold County Appraisal District 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 Redding, 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 Redding helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Redding is $1,110 in the 50860 zip code, while the lowest median tax bill is also $1,110 in the same zip code.
Average Redding Assessed Value
$83,931
Average Ringgold County Assessed Value
$101,674
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redding, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50860 | $10,959 | $33,964 | $83,931 | $129,508 | $203,366 |
Source: Ownwell
Property Tax Bills Across Redding, Iowa
In Redding, IA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by the county assessor. For instance, if your home in Redding has a median market value of $83,931, the tax rate is applied to this assessed value to calculate your annual tax bill. Several factors influence your property tax bill, including property size, location, and any applicable exemptions. Tax bills in Redding can vary significantly, with the 25th percentile paying around $416 annually, while those in the 75th percentile see bills closer to $1,698. For the highest 10% of tax bills, homeowners might pay up to $2,544 annually. These tax bills directly impact homeowners by affecting their overall housing costs. Compared to the national median property tax rate of 0.99%, Redding's rates can offer a more affordable option for homeowners, depending on their property's assessed value and the specific tax rate applied.
Average Redding Tax Bill
$1,110
Average Ringgold County Tax Bill
$1,488
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Redding, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50860 | $173 | $416 | $1,110 | $1,698 | $2,544 |
Source: Ownwell