Example of Audubon County Property Tax Calculation
Audubon County Property Tax calculation is done annually by the local government based on the assessed value of the property. The assessed value of a property is determined by the county assessor's office and is based on factors such as the property's location, size, and condition.
To calculate the property tax, the assessed value of the property is multiplied by the county's tax rate. For example, if a property in Audubon County has an assessed value of $100,000 and the county's tax rate is 2%, the property tax owed would be $2,000.
It is important to note that property taxes in Audubon County may also include additional fees and assessments for services such as schools and fire departments. These fees can vary based on the specific location of the property.
Overall, understanding how property taxes are calculated in Audubon County can help property owners properly budget for their annual tax payments.
If you want appeal your property tax assessment - contact your local tax assessor.
Audubon County Property Tax Rates
Audubon County Property Tax Rates:
| Tax Category | Rate per $100 of Assessed Value |
|---|---|
| Residential | $10.14 |
| Agricultural | $20.35 |
| Commercial | $22.70 |
| Industrial | $22.70 |
| Utilities | $22.70 |
These tax rates are applicable for the current fiscal year and are subject to change based on the County's budget and other factors. It is important for property owners in Audubon County to stay informed about their tax obligations and any changes to the tax rates. A tax advisor can assist in this process and provide guidance on strategic tax planning.
Who sets property tax rates in Audubon County ?
The property tax rates in Audubon County are established by the Board of Supervisors on an annual basis. This board is composed of five members who are elected by the citizens of the county. The property tax rates are typically set during a public budget hearing, which is held in March of each year. During this hearing, residents and business owners in the county have the opportunity to voice their opinions and provide feedback on the proposed tax rates. Once the Board of Supervisors has considered this feedback, they will vote on the final property tax rates for the upcoming year. These rates will be published and applied to all properties within the county, with the amount of tax owed based on the assessed value of each property.
Homestead exemptions in Audubon County ?
Audubon County in Iowa offers various Homestead exemptions and deductions that can help reduce property taxes for eligible homeowners. Here's a breakdown of the county-specific exemptions and deductions, along with the eligibility criteria, amounts, and any notes to keep in mind:
Homestead Exemptions and Deductions in Audubon County, Iowa
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead | Homeowners who occupy their primary residence in Audubon County | Up to $4,850 in taxable value | The property must be owned and occupied by the homeowner on or before July 1st of the current tax year. |
| Military | Veterans, surviving spouses of veterans, and active duty military personnel who own and occupy their primary residence | Up to $2,778 in taxable value | Must provide proof of military service |
| Disabled | Homeowners who are permanently and totally disabled according to Social Security guidelines | Up to $2,778 in taxable value | Must provide proof of disability |
| Elderly | Homeowners who are 65 years of age or older | Up to $4,850 in taxable value | Must provide proof of age |
| Homestead Tax Credit | Homeowners whose household income does not exceed $26,665 (for the 2021 tax year) | Up to $523 in credits against property taxes | Must apply for the credit with the county assessor's office by June 1st of the current tax year |
| Family Farm | Owners of a family farm who reside on the property | Up to $4,850 in taxable value | The property must be classified as agricultural land and used for farming purposes. The owner must also reside on the property. |
| Forest Reserve | Owners of land classified as forest reserve | Up to $2,778 in taxable value | The property must be classified as forest reserve according to Iowa law. |
| Habitat | Owners of land enrolled in the Iowa Habitat and Access Program | Up to $2,778 in taxable value | The property must be enrolled in the Iowa Habitat and Access Program. |
| Historic | Owners of a property listed on the National Register of Historic Places | Up to 100% of the property's assessed value (depending on the level of significance) | The property must be listed on the National Register of Historic Places. |
These exemptions and deductions can provide significant savings on property taxes for eligible homeowners in Audubon County, Iowa. Be sure to check with the county assessor's office for more information and to see if you qualify.
When is Audubon County Property Tax due ?
Audubon County Property Tax is typically due on March 1st every year. However, if the due date falls on a weekend or holiday, the deadline is extended to the next business day.
There are a few payment methods available for Audubon County Property Tax:
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In-person: Payments can be made in person at the Audubon County Treasurer's Office during regular business hours. The office is located at 318 Leroy St, Audubon, IA 50025.
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By mail: Payments can be mailed to the following address: Audubon County Treasurer, P.O Box 277, Audubon, IA 50025. Make sure to include your tax statement and check or money order payable to the Audubon County Treasurer.
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Online: Payments can be made online through the Iowa Tax and Tags website. You will need your tax statement number and a valid credit card or electronic check.
It's important to note that late payments will result in a penalty, so it's best to pay on time or make arrangements with the Treasurer's Office. If you have any questions about your property tax or payment options, don't hesitate to contact the Audubon County Treasurer's Office at (712) 563-2491.
If you have more questions - contact your local tax collector.
How is Audubon County Property Tax penalty calculated ?
How Audubon County Property Tax Penalty is Calculated
Audubon County imposes property tax penalties for late payment, and the penalty amount is calculated based on the following factors:
- Due date: Property taxes are due by September 30th of each year. If the payment is not received by that date, a penalty is applied.
- Penalty rate: The penalty rate for late payment is 1.5% per month or fraction of a month. This means that the penalty accumulates on a daily basis until the payment is received.
- Base amount: The penalty calculation starts with the base amount of unpaid taxes.
Here is an example to illustrate how the penalty is calculated:
| Scenario | Amount Due | Penalty Rate | Days Late | Penalty Amount |
|---|---|---|---|---|
| Original Bill | $2,000 | - | - | - |
| Late Payment | $2,000 | 1.5% per month | 30 | $45 |
In this scenario, the property owner did not make the payment by September 30th and was 30 days late. Therefore, the penalty calculation starts with the base amount of unpaid taxes, which is $2,000. The penalty rate is 1.5% per month, which means that the penalty amount for one month is:
$2,000 * 1.5% = $30
Since the payment is 30 days late, the penalty amount is calculated as follows:
$30 1.0 (for the first month) + $30 0.5 (for the fraction of the second month) = $45
Therefore, the total amount due is $2,045.
In conclusion, property owners in Audubon County should pay their property taxes on time to avoid penalties. The penalty amount is calculated based on the due date, penalty rate, and base amount of unpaid taxes, and it accumulates on a daily basis until the payment is received.
We recommend contacting the Audubon County Tax Office or a local tax professional for the most up-to-date and accurate information.