Red Oak, Montgomery County, Iowa Property Taxes

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

Median Red Oak, IA effective property tax rate: 1.81%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%. Median Red Oak, IA home value: $99,930. Median annual Red Oak, IA tax bill: $1,751, $649 lower than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Red Oak, Montgomery County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.81%

Estimate Property Tax Bill

$1,809

$1,678

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

Property Tax Rates Across Red Oak, Montgomery County, Iowa

Local government entities are responsible for setting tax rates, resulting in significant variation within a state. Each year, counties estimate their required budget for services and divide this by the total value of all taxable property within their jurisdiction, establishing the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the general annual process.

In Red Oak, located in Montgomery County, Iowa, the effective property tax rate is 1.81%. This rate stands out when compared to the national median property tax rate of 1.02%. It also aligns with the median rate for Iowa, indicating a consistent approach to property taxation within the state. Despite the uniformity in rates across Iowa, Red Oak's rate is significantly higher than the national average, which could impact homeowners' decisions and financial planning.

Understanding these rates is crucial for property owners in Red Oak as it directly affects their annual tax bills. For those seeking to manage or potentially lower their property tax burden, exploring appeal and exemption options might be beneficial.

Property Tax Rates Across Red Oak, Montgomery County, Iowa

Source: Ownwell

1.23%

1.65%

2.06%

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 Red Oak Tax Rate

1.81%

Median Effective Montgomery County Tax Rate

1.71%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Red Oak, Montgomery County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
51566	1.17%	1.45%	1.81%	2.00%	2.23%

Source: Ownwell

Property Tax Assessment Values Across Red Oak, Montgomery County, Iowa

When examining property taxes in Red Oak, 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 Montgomery 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 Montgomery 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 Red Oak.

For example, the median home price in Red Oak is $99,930, with tax bills ranging significantly across the county. 51566 has the highest median home price at $99,930.

Property Tax Assessment Values Across Red Oak, Montgomery County, Iowa

Source: Ownwell

$14,640

$100,523

$186,405

Median Red Oak Market Value

$99,930

Median Montgomery County Market Value

$96,860

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Red Oak, Montgomery County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
51566	$19,396	$51,358	$99,930	$163,078	$248,561

Source: Ownwell

Property Tax Bills Across Red Oak, Montgomery County, Iowa

In RED OAK, located in Montgomery County, IA, property tax bills are determined by the assessed value of a home and the local tax rate. The median home price in this area is $99,930, and property tax bills can vary significantly. While the 25th percentile tax bill is $910, the 75th percentile reaches $2,778, and the 90th percentile can be as high as $4,173. The median property tax bill is $1,751, which is below the national median of $2,400. This lower tax bill can be attributed to the local assessed values and tax rates. However, even with a relatively low tax bill, homeowners in RED OAK may still find themselves paying more than necessary due to inaccuracies in their property's assessed value. This is where Ownwell can assist. By providing property tax appeal and exemption services, Ownwell helps homeowners ensure their property is assessed accurately, potentially reducing their tax burden and leading to significant savings.

Property Tax Bills Across Red Oak, Montgomery County, Iowa

Source: Ownwell

$294

$1,344

$2,394

Median Red Oak Tax Bill

$1,751

Median Montgomery County Tax Bill

$1,611

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Red Oak, Montgomery County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
51566	$423	$910	$1,751	$2,778	$4,173

Source: Ownwell