Smithland, Monona County, Iowa Property Taxes

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

Median Smithland, IA effective property tax rate: 1.00%, slightly lower than the national median of 1.02%, but lower than the Iowa state median of 1.54%. Median Smithland, IA home value: $129,884. Median annual Smithland, IA tax bill: $1,308, $1,092 lower than the national median property tax bill of $2,400.

How are property taxes in Monona calculated?

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

Last Updated March 1, 2025

Smithland, Monona County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

Estimate Property Tax Bill

$1,299

$1,205

Ownwell’s Smithland Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Smithland with just two data points. By entering your property's estimated assessed value, our calculator applies Smithland’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 Monona. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Smithland, Monona County, Iowa

Local government entities set tax rates, which can vary significantly within a state. Each county estimates its required budget to provide essential services and divides that 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 determining tax rates and budgets, this is the fundamental annual process. In Smithland, located in Monona County, Iowa, the effective property tax rate reflects this calculation process. Comparing Smithland’s rate to other cities within Iowa and the broader U.S. landscape offers valuable insights. Iowa's median property tax rate is slightly below the national median, which means residents may find some financial relief compared to other states. The U.S. median property tax rate stands at 1.02%, which provides a benchmark for comparison. Understanding these rates can help property owners in Smithland make informed decisions about their property investments and financial planning.

Property Tax Rates Across Smithland, Monona County, Iowa

Source: Ownwell

0.98%

1.23%

1.48%

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 Smithland Tax Rate

1.00%

Median Effective Monona County Tax Rate

1.30%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Smithland, Monona County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
51056	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Smithland, Monona County, Iowa

When examining property taxes in Smithland, 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 Monona 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.

Assessment notices: In Monona 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 Smithland.

For example, the median home price in Smithland is $129,884, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Smithland, Monona County, Iowa

Source: Ownwell

$34,694

$105,349

$176,003

Median Smithland Market Value

$129,884

Median Monona County Market Value

$94,166

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Smithland, Monona County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
51056	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Smithland, Monona County, Iowa

Property tax bills in Smithland, located in Monona County, Iowa, are determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to calculate the property tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, impacting the final tax bill. In Smithland, the property tax rate is significantly lower than the national median of 1.02%, making it more affordable for homeowners. However, tax bills can vary widely, with the 25th percentile at $942 and the 90th percentile reaching $3,859, compared to the national median of $2,400. These variations highlight the importance of ensuring fair assessments.

Ownwell assists homeowners by providing expert property tax appeal and exemption services. Our team analyzes your property assessment to identify potential errors or overvaluations, helping you achieve the lowest possible tax bill. By navigating the complexities of tax assessments, we empower homeowners to save money and ensure fair taxation.

Property Tax Bills Across Smithland, Monona County, Iowa

Source: Ownwell

$482

$1,220

$1,958

Median Smithland Tax Bill

$1,308

Median Monona County Tax Bill

$1,186

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Smithland, Monona County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
51056	N/A	N/A	N/A	N/A	N/A

Source: Ownwell