Coggon, Iowa Property Taxes
The median property tax rate in Coggon, IA is 1.23%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Coggon at $202,380, the typical annual property tax bill reaches $2,510, slightly below the national median of $2,690. Property taxes in Coggon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coggon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Coggon or another part of Buchanan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coggon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,489
Ownwell’s Coggon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coggon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coggon to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Coggon, Iowa
Property taxes in Coggon, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coggon is 1.23%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Coggon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coggon estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Coggon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52218 zip code has the highest median property tax rate of 1.23%, while the 52218 zip code has the lowest median tax rate of 1.23%. Understanding how these cities compare with Coggon provides valuable insights into the varying tax landscape across Buchanan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coggon Tax Rate
1.23%
Average Buchanan County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coggon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52218 | 1.05% | 1.13% | 1.23% | 1.36% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Coggon, Iowa
In Coggon, Iowa, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Buchanan County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Coggon, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Coggon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Coggon is $202,380, with the highest and lowest median tax bills both recorded at $2,510 in zip code 52218.
Average Coggon Assessed Value
$202,380
Average Buchanan County Assessed Value
$154,105
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coggon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52218 | $69,492 | $130,180 | $202,380 | $288,770 | $343,894 |
Source: Ownwell
Property Tax Bills Across Coggon, Iowa
In Coggon, Buchanan County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Coggon, the median home price stands at $202,380. The property tax rate in Buchanan County is higher than the national median of 0.99%, leading to substantial tax bills. For instance, homeowners in the 25th percentile can expect a tax bill of around $1,516, while those in the 75th percentile face a significantly higher bill of $3,872. The top 10% of property tax bills can reach up to $4,414. These figures indicate that property taxes in Coggon can vary widely, affecting homeowners differently based on their property's assessed value. The highest and lowest median tax bills are both reported at $2,510 in the zip code 52218, showing some consistency in tax rates within specific areas.
Average Coggon Tax Bill
$2,510
Average Buchanan County Tax Bill
$2,162
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Coggon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52218 | $748 | $1,516 | $2,510 | $3,872 | $4,414 |
Source: Ownwell