Albia, Monroe County, Iowa Property Taxes

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

Median Albia, IA effective property tax rate: 1.61%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Albia, IA home value: $104,735
Median annual Albia, IA tax bill: $1,640, $760 lower than the national median property tax bill of $2,400.

How are property taxes in Monroe County calculated?

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

Last Updated March 1, 2025

Albia, Monroe County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.61%

Estimate Property Tax Bill

$1,686

$1,565

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

Property Tax Rates Across Albia, Monroe County, Iowa

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county's annual process of estimating its required budget to provide services, which is then divided by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Though votes and laws influence the setting of tax rates and budgets, this is essentially how it happens annually.

In Albia, located in Monroe County, Iowa, the effective property tax rate is a reflection of this process. When compared to other cities in Iowa, Albia's rate stands out. The median property tax rate in Iowa is notably higher than the national median. This difference highlights the unique fiscal demands and property values within the state. For residents of Albia, understanding how their property tax rate compares to the state and national medians can provide valuable insight into their local government's budgetary needs and priorities.

Property Tax Rates Across Albia, Monroe County, Iowa

Source: Ownwell

1.13%

1.37%

1.61%

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 Albia Tax Rate

1.61%

Median Effective Monroe County Tax Rate

1.39%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Albia, Monroe County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
52531	1.12%	1.24%	1.61%	1.82%	1.98%

Source: Ownwell

Property Tax Assessment Values Across Albia, Monroe County, Iowa

When examining property taxes in Albia, 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 Monroe 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 Monroe 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 Albia.

For example, the median home price in Albia is $104,735, with tax bills ranging significantly across the county. Zip code 52531 has the highest median home price at $104,735.

Property Tax Assessment Values Across Albia, Monroe County, Iowa

Source: Ownwell

$10,340

$74,510

$138,680

Median Albia Market Value

$104,735

Median Monroe County Market Value

$86,560

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Albia, Monroe County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
52531	$27,987	$59,360	$104,735	$168,962	$268,713

Source: Ownwell

Property Tax Bills Across Albia, Monroe County, Iowa

In Albia, Monroe County, IA, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Albia, the median property tax bill is $1,640, which is significantly lower than the national median of $2,400. However, some homeowners may face higher bills, with the 90th percentile reaching up to $3,824. These taxes can impact homeowners by affecting their monthly budget and overall financial planning. Ownwell offers a solution by providing property tax appeal and exemption services, helping homeowners potentially reduce their tax bills. By analyzing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell can assist homeowners in Albia in achieving significant savings, ensuring they are not overpaying on their property taxes.

Property Tax Bills Across Albia, Monroe County, Iowa

Source: Ownwell

$114

$877

$1,640

Median Albia Tax Bill

$1,640

Median Monroe County Tax Bill

$1,330

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Albia, Monroe County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
52531	$409	$954	$1,640	$2,570	$3,824

Source: Ownwell