Hazleton, Iowa Property Taxes
The median property tax rate in Hazleton, IA is 1.30%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Hazleton, the typical annual property tax bill reaches $1,496, which is lower than the national median of $2,690. Property taxes in Hazleton 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 Hazleton'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 Hazleton 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
Hazleton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,428
Ownwell’s Hazleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hazleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hazleton 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 Hazleton, Iowa
Property taxes in Hazleton, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hazleton is 1.30%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Hazleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hazleton 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 Hazleton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50641 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Hazleton 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 Hazleton Tax Rate
1.30%
Average Buchanan County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hazleton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50641 | 1.07% | 1.16% | 1.30% | 1.43% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Hazleton, Iowa
In Hazleton, 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 Appraisal District 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 Hazleton, 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 Hazleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hazleton is $1496 in zip code 50641, while the lowest median tax bill is also $1496 in the same zip code.
Average Hazleton Assessed Value
$109,810
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 Hazleton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50641 | $39,462 | $69,150 | $109,810 | $196,840 | $291,546 |
Source: Ownwell
Property Tax Bills Across Hazleton, Iowa
In Hazleton, Buchanan County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $109,810, homeowners in Hazleton can expect a tax bill that typically ranges from $912 at the 25th percentile to $2,384 at the 75th percentile, with the 90th percentile reaching up to $3,462. Various factors influence the assessed value, including the size, location, and condition of the property. These tax bills significantly impact homeowners, as they represent an ongoing cost of homeownership. Comparing this to the national median property tax rate of 0.99%, Hazleton's property taxes can be seen as relatively moderate, but they still play a crucial role in local government funding, affecting community services and infrastructure.
Average Hazleton Tax Bill
$1,496
Average Buchanan County Tax Bill
$2,162
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Hazleton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50641 | $504 | $912 | $1,496 | $2,384 | $3,462 |
Source: Ownwell