Tama, Tama County, Iowa Property Taxes
Median Tama, IA effective property tax rate: 1.85%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Tama, IA home value: $89,940
Median annual Tama, IA tax bill: $1,581, $819 lower than the national median property tax bill of $2,400.
How are property taxes in Tama calculated?
Property taxes in Tama, 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 Tama’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tama, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Tama, Tama County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.85%
Estimate Property Tax Bill
$1,664
$1,544
Property Tax Rates Across Tama, Tama County, Iowa
Local government entities set tax rates, which can vary widely within a state. This is because annually, each county estimates its required budget to provide services and divides 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 Tama, the effective property tax rate is significantly higher than the national median of 1.02%. This means property owners in Tama could be paying more in taxes compared to other regions in the U.S. However, it is important to note that the rates can vary within the state, reflecting the diverse budgetary needs and property values across different areas.
Comparing Tama’s effective property tax rate to other cities in Iowa and the median property tax rates in Iowa and the U.S. can provide valuable insights for property owners. Understanding these differences can help property owners make informed decisions about their investments and potential tax liabilities.
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 Tama Tax Rate
1.85%
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 Tama County Tax Rate
1.60%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Tama, Tama County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52339 | 1.19% | 1.52% | 1.85% | 2.13% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Tama, Tama County, Iowa
When examining property taxes in Tama, 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 Tama County Appraisal District 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 Tama 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 Tama. For example, the median home price in Tama is $89,940, with tax bills ranging significantly across the county. 52339 has the highest median home price at $89,940.
Median Tama Market Value
$89,940
Median Tama County Market Value
$107,220
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Tama, Tama County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52339 | $30,590 | $53,015 | $89,940 | $138,035 | $195,800 |
Source: Ownwell
Property Tax Bills Across Tama, Tama County, Iowa
In Tama, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the Tama County Assessor's office, which evaluates the property's market value. Homeowners in Tama can expect a median tax bill of $1,581, which is below the national median of $2,400. The tax bill varies significantly, with the 25th percentile at $980 and the 90th percentile reaching $3,346, reflecting differences in property values and assessment accuracy.
Factors influencing property tax bills include the property's location, size, and any improvements made. High property taxes can strain homeowners' finances, making it crucial to ensure assessments are fair and accurate. Ownwell helps homeowners by providing property tax appeal services to challenge inaccurate assessments, potentially lowering their tax bills. By analyzing local market data and leveraging expertise in property tax law, Ownwell ensures homeowners in Tama pay only their fair share, offering peace of mind and potential savings.
Median Tama Tax Bill
$1,581
Median Tama County Tax Bill
$1,687
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Tama, Tama County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52339 | $518 | $980 | $1,581 | $2,324 | $3,346 |
Source: Ownwell