Audubon, Iowa Property Taxes
The median property tax rate in Audubon, IA is 0.83%, which is notably lower than both the national median of 0.99% and Iowa’s state median of 1.54%. With the median home value in Audubon, the typical annual property tax bill amounts to $1,570, significantly less than the national median of $2,690. Property taxes in Audubon are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Audubon’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Audubon 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
Audubon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,512
Ownwell’s Audubon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Audubon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Audubon 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 Audubon, Iowa
Property taxes in Audubon, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Audubon is 1.53%, significantly higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Audubon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Audubon 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 Audubon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50025 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Audubon provides valuable insights into the varying tax landscape across Audubon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Audubon Tax Rate
0.83%
Average Shelby County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Audubon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50025 | 0.79% | 0.80% | 0.83% | 0.86% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Audubon, Iowa
In Audubon, 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 local 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 Audubon, 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 Audubon 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 50025, with a median tax bill of $1,570.
Average Audubon Assessed Value
$182,220
Average Shelby County Assessed Value
$144,278
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Audubon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50025 | $105,704 | $134,397 | $182,220 | $230,042 | $258,735 |
Source: Ownwell
Property Tax Bills Across Audubon, Iowa
In Audubon, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the property tax rate set by the county. For instance, with a median home price of $182,220, homeowners can expect their property taxes to fall within a range depending on various factors. At the 25th percentile, tax bills are around $1,120, while at the 75th percentile, they can go up to $2,020. The top 10% of tax bills can be as high as $2,290. Comparatively, the national median property tax rate is 0.99%, making Audubon's rates relatively moderate. Factors such as home improvements, neighborhood developments, and changes in the local tax rate can influence these amounts. Understanding these elements helps homeowners anticipate their annual tax bills and manage their finances more effectively.
Average Audubon Tax Bill
$1,570
Average Shelby County Tax Bill
$2,060
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Audubon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50025 | $850 | $1,120 | $1,570 | $2,020 | $2,290 |
Source: Ownwell