University Park, Mahaska County, Iowa Property Taxes

Name: Property Tax Bills Across University Park, Mahaska County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median UNIVERSITY PARK, IA effective property tax rate: 1.18%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median UNIVERSITY PARK, IA home value: $103,615
Median annual UNIVERSITY PARK, IA tax bill: $1,264, $1,136 lower than the national median property tax bill of $2,400.

How are property taxes in Mahaska calculated?

Property taxes in UNIVERSITY PARK, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding UNIVERSITY PARK’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in UNIVERSITY PARK, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

University Park, Mahaska County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.18%

Estimate Property Tax Bill

$1,223

$1,135

Ownwell’s University Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in University Park with just two data points. By entering your property's estimated assessed value, our calculator applies University Park’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Mahaska County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across University Park, Mahaska County, Iowa

Local government entities are responsible for setting tax rates, leading to significant variations within a state. Each county annually estimates its required budget to provide essential services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual procedure.

In University Park, located in Mahaska County, Iowa, the effective property tax rate stands at 1.18%. This figure is above the national median property tax rate of 1.02%, indicating a higher tax burden for property owners in this area. When comparing this rate to other cities within Iowa, it is important to note that University Park shares this rate with other areas, indicating a uniformity in tax rates within certain regions of the state. This rate also surpasses the national median property tax bill of $2,400, further emphasizing the higher costs associated with property ownership in University Park. Understanding these differences can help property owners make informed decisions and potentially seek property tax appeal or exemption services to alleviate their tax burden.

Property Tax Rates Across University Park, Mahaska County, Iowa

Source: Ownwell

1.04%

1.38%

1.72%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective University Park Tax Rate

1.18%

Median Effective Mahaska County Tax Rate

1.54%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across University Park, Mahaska County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
52595	1.01%	1.06%	1.18%	1.34%	1.42%

Source: Ownwell

Property Tax Assessment Values Across University Park, Mahaska County, Iowa

When examining property taxes in University Park, Iowa, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Mahaska County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Mahaska County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in University Park.

For example, the median home price in University Park is $103,615, with tax bills ranging significantly across the county. Zip code 52595 has the highest median home price at $103,615.

Property Tax Assessment Values Across University Park, Mahaska County, Iowa

Source: Ownwell

$45,450

$141,200

$236,950

Median University Park Market Value

$103,615

Median Mahaska County Market Value

$125,860

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across University Park, Mahaska County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
52595	$39,566	$68,612	$103,615	$144,098	$187,491

Source: Ownwell

Property Tax Bills Across University Park, Mahaska County, Iowa

In University Park, located in Mahaska County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. These assessors evaluate various factors such as the property's location, size, and condition to estimate its market value. The tax rate is then applied to this assessed value to determine the annual tax bill. With a median home price of $103,615, homeowners in University Park face a median property tax bill of $1,264, which is below the national median of $2,400. However, tax bills can vary significantly, ranging from the 25th percentile at $868 to the 90th percentile at $2,008. High property taxes can be a burden for homeowners, impacting their overall financial health. This is where Ownwell can help. By offering property tax appeal and exemption services, Ownwell assists homeowners in potentially lowering their tax bills. This can result in significant savings, providing homeowners with financial relief and peace of mind.

Property Tax Bills Across University Park, Mahaska County, Iowa

Source: Ownwell

$476

$1,651

$2,825

Median University Park Tax Bill

$1,264

Median Mahaska County Tax Bill

$1,886

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across University Park, Mahaska County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
52595	$572	$868	$1,264	$1,632	$2,008

Source: Ownwell