Holland, Iowa Property Taxes
The median property tax rate in Holland, IA is 1.35%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $146,365 in Holland, the typical annual property tax bill amounts to $1,869, falling below the national median of $2,690. Property taxes in Holland are calculated based on the tax assessed value, which generally lies below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Holland'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 Holland or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holland, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,976
Ownwell’s Holland Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holland 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 Holland, Iowa
Property taxes in Holland, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50642 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Holland provides valuable insights into the varying tax landscape across Grundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holland Tax Rate
1.35%
Average Grundy County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50642 | 1.04% | 1.11% | 1.35% | 1.46% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Holland, Iowa. 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 Grundy 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 Holland, 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 Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50642, with a tax bill of $1869, which is also the lowest median tax bill in the area.
Average Holland Assessed Value
$146,365
Average Grundy County Assessed Value
$168,355
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50642 | $51,590 | $87,728 | $146,365 | $240,825 | $383,890 |
Source: Ownwell
Property Tax Bills Across Holland, Iowa
In Holland, Grundy County, IA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax authorities determine the assessed value, and then a tax rate, known as the millage rate, is applied. This rate can be influenced by various factors, including local government budgets, school district needs, and infrastructure projects. For homeowners in Holland, the median home price is $146,365. The property tax bill for the 25th percentile is $1,205, while it rises to $2,906 at the 75th percentile. At the 90th percentile, homeowners can expect a tax bill of $4,410. The highest and lowest median tax bills in the county both stand at $1,869, reflecting a uniform approach to taxation within Grundy County. Compared to the national median property tax rate of 0.99%, Holland's tax rates can significantly impact homeowners' annual expenses, highlighting the importance of understanding local tax structures.
Average Holland Tax Bill
$1,869
Average Grundy County Tax Bill
$2,137
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50642 | $771 | $1,205 | $1,869 | $2,906 | $4,410 |
Source: Ownwell