Osage, Mitchell County, Iowa Property Taxes
Median OSAGE, IA effective property tax rate: 1.34%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median OSAGE, IA home value: $147,650
Median annual OSAGE, IA tax bill: $1,892, $508 lower than the national median property tax bill of $2,400.
How are property taxes in Mitchell County calculated?
Property taxes in OSAGE, 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 OSAGE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OSAGE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Osage, Mitchell County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.34%
Estimate Property Tax Bill
$1,979
$1,836
Property Tax Rates Across Osage, Mitchell County, Iowa
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services, dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Osage, located in Mitchell County, Iowa, the effective property tax rate is 1.34%. This rate positions Osage above the national median property tax rate of 1.02%, indicating a relatively higher burden on property owners compared to the national average. However, within Iowa, Osage's rate reflects the state's typical range, as it matches both the highest and lowest median tax rates in the state. This consistency within the zip code 50461 suggests a stable tax environment for residents. By comparing Osage’s tax rate to the broader national and state contexts, property owners can better understand their tax obligations and assess potential savings through tax appeal and exemption services.
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 Osage Tax Rate
1.34%
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 Mitchell County Tax Rate
1.25%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Osage, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50461 | 1.04% | 1.14% | 1.34% | 1.44% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Osage, Mitchell County, Iowa
When examining property taxes in Osage, IA, 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 Mitchell County Assessor's Office 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 Mitchell County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Osage. For example, the median home price in Osage is $147,650, with tax bills ranging significantly across the county. Zip code 50461 has the highest median home price at $147,650.
Property Tax Assessment Values Across Osage, Mitchell County, Iowa
Source: Ownwell
$60,730
$195,478
$330,225
Median Osage Market Value
$147,650
Median Mitchell County Market Value
$146,070
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Osage, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50461 | $48,774 | $91,245 | $147,650 | $239,145 | $375,176 |
Source: Ownwell
Property Tax Bills Across Osage, Mitchell County, Iowa
Property tax bills in Osage, located in Mitchell County, IA, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The median home price in the area is $147,650. Property tax rates are applied to this assessed value to determine the annual tax bill. In Osage, the median property tax bill stands at $1,892, which is below the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, subsequently affecting the tax bill. For homeowners, this means that any changes in these factors can lead to fluctuations in their tax obligations.
Ownwell offers valuable assistance to homeowners in Osage by providing property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners reduce their tax bills. This service ensures that homeowners only pay their fair share, potentially saving them significant amounts on their annual property taxes. With expert guidance, Ownwell empowers homeowners to navigate the complexities of property tax assessments confidently.
Median Osage Tax Bill
$1,892
Median Mitchell County Tax Bill
$1,776
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Osage, Mitchell County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50461 | $648 | $1,217 | $1,892 | $3,053 | $4,834 |
Source: Ownwell