Rembrandt, Iowa Property Taxes
The median property tax rate in Rembrandt, IA is 1.29%, 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 Rembrandt at $94,640, the typical annual property tax bill amounts to $1,246, falling below the national median of $2,690. Property taxes in Rembrandt are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Rembrandt'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 Rembrandt or another part of Buena Vista County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rembrandt, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$1,221
Ownwell’s Rembrandt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rembrandt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rembrandt 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 Rembrandt, Iowa
Property taxes in Rembrandt, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rembrandt is 1.29%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Rembrandt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rembrandt 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 Rembrandt's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50576 zip code has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Rembrandt provides valuable insights into the varying tax landscape across Buena Vista County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rembrandt Tax Rate
1.29%
Average Buena Vista County Tax Rate
1.46%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rembrandt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50576 | 0.94% | 1.05% | 1.29% | 1.48% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Rembrandt, Iowa
In Rembrandt, 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 Buena Vista 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 Rembrandt, 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 Rembrandt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rembrandt is $94,640, with tax bills ranging from $738 at the 25th percentile to $3,112 at the 90th percentile. The zip code 50576 has the highest and lowest median tax bill at $1,246.
Average Rembrandt Assessed Value
$94,640
Average Buena Vista County Assessed Value
$152,730
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rembrandt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50576 | $32,015 | $52,878 | $94,640 | $185,550 | $289,740 |
Source: Ownwell
Property Tax Bills Across Rembrandt, Iowa
In Rembrandt, located in Buena Vista County, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as home size, location, and any improvements can affect the assessed value. For instance, the median home price in Rembrandt is $94,640, and homeowners typically see tax bills ranging from $738 at the 25th percentile to $2,086 at the 75th percentile, with the 90th percentile reaching up to $3,112. Comparatively, the national median property tax rate is 0.99%, which can help homeowners understand how their local rates stack up against the national average. Higher property taxes can impact homeowners by increasing their annual housing costs, while lower taxes can make homeownership more affordable. In Buena Vista County, the highest and lowest median tax bills are both recorded at $1,246 in the 50576 zip code, illustrating some consistency in tax assessments within the area.
Average Rembrandt Tax Bill
$1,246
Average Buena Vista County Tax Bill
$2,124
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Rembrandt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50576 | $344 | $738 | $1,246 | $2,086 | $3,112 |
Source: Ownwell