Colesburg, Iowa Property Taxes
The median property tax rate in Colesburg, IA is 1.08%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Colesburg at $148,124, the typical annual property tax bill amounts to $1,610, which is below the national median of $2,690. Property taxes in Colesburg are determined based on the assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Colesburg's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether residing in the heart of Colesburg or its surrounding areas, a thorough comprehension of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Colesburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,600
Ownwell’s Colesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colesburg 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 Colesburg, Iowa
Property taxes in Colesburg, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colesburg is 1.08%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Colesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colesburg 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 Colesburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52035 zip code has both the highest and lowest median property tax rate of 1.08%. Understanding how these cities compare with Colesburg provides valuable insights into the varying tax landscape across Clayton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colesburg Tax Rate
1.08%
Average Clayton County Tax Rate
1.34%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52035 | 0.92% | 0.99% | 1.08% | 1.17% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Colesburg, Iowa
In Colesburg, 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 Clayton 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 Colesburg, 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 Colesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the Colesburg area are both $1,610, found in the 52035 zip code.
Average Colesburg Assessed Value
$148,124
Average Clayton County Assessed Value
$133,780
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52035 | $42,068 | $93,029 | $148,124 | $217,020 | $274,168 |
Source: Ownwell
Property Tax Bills Across Colesburg, Iowa
In Colesburg, located in Clayton County, IA, property tax bills are calculated based on the assessed value of your home. The local tax assessor determines this value, which is then multiplied by the local property tax rate to calculate the annual tax bill. The median home price in Colesburg is $148,124, and homeowners can expect a tax bill ranging from the 25th percentile at $970 to the 90th percentile at $3,134, depending on their property's value and specific tax rate. Several factors influence the assessed value, including the property's market value, its condition, and any improvements made. Comparatively, the median property tax bill in Colesburg is relatively modest, with the highest median tax bill recorded at $1,610 in the 52035 zip code. This is below the national median property tax rate of 0.99%, making it a more affordable location for homeowners. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Colesburg Tax Bill
$1,610
Average Clayton County Tax Bill
$1,792
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Colesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52035 | $380 | $970 | $1,610 | $2,354 | $3,134 |
Source: Ownwell