Coggon, Iowa Property Taxes
The median property tax rate in Coggon, IA is 1.20%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $265,500 in Coggon, the typical annual property tax bill reaches $3,196, surpassing the national median of $2,690. Property taxes in Coggon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. 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 Delaware 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
1.2%
Estimate Property Tax Bill
$3,186
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 Delaware 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 1.20%, 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 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Coggon provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coggon Tax Rate
1.20%
Average Delaware County Tax Rate
1.30%
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 | 1.00% | 1.11% | 1.20% | 1.25% | 1.43% |
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 Delaware 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. The highest and lowest median tax bills in Coggon both stand at $3,196 in the 52218 zip code.
Average Coggon Assessed Value
$265,500
Average Delaware County Assessed Value
$182,000
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 | $136,100 | $190,300 | $265,500 | $396,400 | $571,400 |
Source: Ownwell
Property Tax Bills Across Coggon, Iowa
In Coggon, located in Delaware County, IA, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For instance, with a median home price of $265,500, homeowners can expect varying tax bills depending on the specific assessment and applicable exemptions. Several factors influence the final tax bill, including property location, improvements, and any applicable exemptions. The 25th percentile tax bill in Coggon is around $2,152, while the 75th percentile climbs to $4,928, and the 90th percentile reaches $7,268. These figures show significant variability, indicating how different factors can impact the overall tax burden. Homeowners in Coggon should be aware of these assessments and the local tax rate, as these directly affect their annual property tax bills. Comparing these figures with the national median property tax rate of 0.99% highlights the importance of understanding local tax dynamics.
Average Coggon Tax Bill
$3,196
Average Delaware County Tax Bill
$2,420
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 | $1,492 | $2,152 | $3,196 | $4,928 | $7,268 |
Source: Ownwell