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Updated 2025 Tax Year

Monroe County
Property Tax Guide

Everything you need to know about property taxes in Monroe County, IA. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
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Quick Facts
Tax Rate
Approximately 1% of assessed value (varies by taxing districts within county)
1st Due
Sep 30
2nd Due
Mar 31
Exemptions
5+ Available
Section 1

How Property Tax Works

Monroe County, Iowa operates under the state's property tax system, which serves as the primary funding mechanism for essential local services including public schools, county government operations, emergency services, and municipal infrastructure. Property owners in Monroe County can expect effective tax rates that typically align with Iowa's statewide average of approximately 1% of assessed value, though actual rates vary significantly based on your specific location within the county due to overlapping special taxing districts.

Your property tax bill reflects a combination of levies from multiple governmental entities: the county itself, your local school district, any incorporated city or town, and various special districts such as emergency services or library districts. This means two properties with identical assessed values may have different tax bills depending on which taxing jurisdictions they fall within. The county assessor determines your property's assessed value annually, while the county auditor collects taxes and maintains payment records.

Section 2

What Makes Up Your Tax Bill

ComponentRate (per $1,000)Description
Total Consolidated Rate$50.00Combined rate for FY 2025-2026 levy year
County GeneralVariableBasic county services and operations
School DistrictVariableLocal school district operations and bonds
MunicipalVariableCity/town services (if applicable)
Special DistrictsVariableEmergency services, library, drainage districts

Note: The total rate of 500 mills ($50.00 per $1,000 of assessed value) represents the consolidated rate for properties within Monroe County for the 2025-2026 fiscal year. Your actual rate may differ based on which school district, municipality, and special taxing districts serve your property location. Contact the Monroe County Auditor's office for your specific tax rate breakdown based on your property's legal description.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Monroe County, property taxes are due in two installments:

First Installment
Sep 30
Delinquent after Dec 10
Second Installment
Mar 31
Delinquent after Apr 10
Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental taxes in Monroe County are additional assessments that occur when property undergoes significant changes after the January 1 assessment date. The most common triggers include new construction completion, major improvements or additions, and changes in property use classification. When the county assessor identifies these changes, they calculate the difference between the original assessment and the new assessed value, then apply the appropriate tax rate to determine the supplemental amount.

For example, if you complete a $100,000 home addition after January 1 but before December 31, the assessor will add this value to your assessment for the current tax year. The supplemental tax would be calculated by multiplying the $100,000 increase by Monroe County's applicable tax rate. This supplemental amount becomes due immediately upon billing and is separate from your regular property tax payment schedule.

Example Calculation

Example 1: $300,000 Property Value

  • Assessed Value: $300,000
  • Homestead Credit Applied: -$4,850 (estimated, requires application)
  • Net Taxable Value: $295,150
  • Annual Tax ($50.00 rate): $14,758
  • Monthly Escrow: $1,230

Example 2: $600,000 Property Value

  • Assessed Value: $600,000
  • Homestead Credit Applied: -$4,850 (estimated, requires application)
  • Net Taxable Value: $595,150
  • Annual Tax ($50.00 rate): $29,758
  • Monthly Escrow: $2,480

Example 3: $1,000,000 Property Value

  • Assessed Value: $1,000,000
  • Military Service Credit: -$1,852 (if applicable, requires application)
  • Net Taxable Value: $998,148
  • Annual Tax ($50.00 rate): $49,907
  • Monthly Escrow: $4,159

Note: Tax credits shown require annual application and eligibility verification. Actual credits may vary based on individual circumstances and program requirements.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Monroe County require property tax escrow accounts to ensure timely payment of your annual property tax obligation. Your lender collects approximately 1/12 of your estimated annual tax bill each month along with your mortgage payment, depositing these funds into a dedicated escrow account. Since Monroe County property taxes are due May 1 annually, your lender will make this payment on your behalf using accumulated escrow funds.

Lenders typically review escrow accounts annually and may adjust your monthly payment if property taxes increase due to assessment changes or rate adjustments. You'll receive an annual escrow analysis showing the account activity and any required payment changes. If you pay your mortgage off or refinance, ensure the new lender receives proper escrow transfer documentation. Property owners without mortgages are responsible for making direct payments to the Monroe County Treasurer by the May 1 deadline.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
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Section 6

Frequently Asked Questions

Q: When are Monroe County property taxes due for the 2025-2026 fiscal year? A: Property taxes are due May 1, 2025. The assessment effective date is January 1, 2025.

Q: What tax credits are available and do I need to apply? A: The Homestead Credit is the primary credit for owner-occupied residences, and Military Service Credit may be available for qualifying veterans. Both require application through the Monroe County Assessor's office and are not automatic.

Q: How does the Homestead Credit work? A: The Homestead Credit caps annual assessment increases rather than reducing market value. You must own and occupy the property as your primary residence and file Iowa income taxes. Applications received after July 1 apply to the next assessment year.

Q: When can I appeal my property assessment? A: Assessment protests must be filed between April 2 and April 30 (inclusive) with the local Board of Review. The assessment effective date is January 1.

Q: What are the penalties for late payment? A: Contact the Monroe County Treasurer's office for current penalty and interest rates on payments received after the May 1 deadline.

Q: Can I pay my property taxes online? A: Check the Monroe County Auditor's website for available online payment options and accepted payment methods.

Q: Why might my neighbor's tax rate differ from mine? A: Tax rates vary based on location within special taxing districts including school districts, municipalities, emergency service districts, and other local governmental entities.

Q: How often are properties reassessed in Monroe County? A: Iowa law requires annual assessment updates effective January 1 each year, though not every property receives a physical inspection annually.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
County
Auditor - Monroe County, Iowamonroecounty.iowa.gov
02
$34.29legis.iowa.gov
03
Excel File; Page 1revenue.nebraska.gov
04
County
Monroe County, Iowa | Assessormonroecounty.iowa.gov
05
in the court of appeals of iowaiowacourts.gov
06
Tax Doc
Property Taxfloydco.iowa.gov
07
File a Homestead Exemptioniowa.gov
08
County
Monroe Countyhomebaseiowa.gov
09
County
COUNTY BUDGET INSTRUCTIONS Fiscal Year 2017/2018iowaonline.state.ia.us
10
Iowa Legislature - BillBooklegis.iowa.gov
All sources verified as of 2025 Tax Year

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