Agency, Iowa Property Taxes
The median property tax rate in AGENCY, IA is 1.26%, considerably higher than the national median of 0.99%, though lower than the Iowa state median of 1.54%. With the median home value in AGENCY at $132,370, the typical annual property tax bill reaches $1,622, which is below the national median of $2,690. Property taxes in AGENCY 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 AGENCY'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 AGENCY 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
Agency, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,668
Ownwell’s Agency Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Agency with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Agency 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 Agency, Iowa
Property taxes in Agency, Iowa, are essential for funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Agency is 1.26%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Agency set these rates annually, and they can vary significantly across different neighborhoods. Each year, Agency 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 Agency's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52530 zip code has the highest median property tax rate of 1.26%, while the lowest median tax rate is also 1.26% in the same zip code. Understanding how these cities compare with Agency provides valuable insights into the varying tax landscape across Wapello County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Agency Tax Rate
1.26%
Average Wapello County Tax Rate
1.66%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Agency, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52530 | 1.09% | 1.17% | 1.26% | 1.32% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Agency, Iowa
In Agency, 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 Wapello 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 Agency, 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 Agency is $132,370. The median tax bill for the 25th percentile is $958, while the 75th percentile is $2,422. The highest median tax bill of $1,622 is found in the 52530 zip code, which also has the lowest median tax bill, indicating uniformity in this area. 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 Agency helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Agency Assessed Value
$132,370
Average Wapello County Assessed Value
$83,735
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Agency, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52530 | $42,422 | $81,760 | $132,370 | $196,090 | $299,070 |
Source: Ownwell
Property Tax Bills Across Agency, Iowa
In AGENCY, located in Wapello County, IA, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in AGENCY face a range of tax bills depending on the value of their property. For instance, the tax bill at the 25th percentile is $958, while at the 75th percentile, it rises to $2,422. The 90th percentile sees tax bills as high as $3,537. Factors such as property size, location, and market conditions are considered in the assessment process. With the national median property tax rate at 0.99%, homeowners in AGENCY may find their tax bills vary significantly based on these local assessments. High property taxes can impact homeowners by increasing the cost of homeownership, while lower taxes can provide some financial relief. Understanding these factors can help homeowners better anticipate their annual property tax expenses.
Average Agency Tax Bill
$1,622
Average Wapello County Tax Bill
$1,372
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Agency, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52530 | $539 | $958 | $1,622 | $2,422 | $3,537 |
Source: Ownwell