Garden City, Iowa Property Taxes
The median property tax rate in Garden City, IA is 1.14%, which is higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With a median home value of $77,770, the typical annual property tax bill in Garden City amounts to $776, falling below the national median of $2,690. Property taxes in Garden City are based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Garden City's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Garden City or another part of Hardin County, understanding the local property tax landscape is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Garden City, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$887
Ownwell’s Garden City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Garden City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garden City to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Garden City, Iowa
Property taxes in Garden City, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garden City is 1.14%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Garden City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garden City 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 Garden City's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50102 zip code has the highest median property tax rate of 1.14%, while the 50102 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Garden City provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garden City Tax Rate
1.14%
Average Hardin County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garden City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50102 | 0.93% | 1.02% | 1.14% | 1.25% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Garden City, Iowa
In Garden City, 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 Hardin 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 Garden City, 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 Garden City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Garden City is $77,770, with tax bills ranging from $416 at the 25th percentile to $1,834 at the 90th percentile. The highest and lowest median tax bills are both $776 in the 50102 zip code.
Average Garden City Assessed Value
$77,770
Average Hardin County Assessed Value
$94,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garden City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50102 | $16,574 | $47,300 | $77,770 | $115,400 | $157,762 |
Source: Ownwell
Property Tax Bills Across Garden City, Iowa
In Garden City, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to calculate your tax bill. For instance, with a median home price of $77,770, homeowners can expect varying tax bills depending on their home's assessed value and applicable exemptions or deductions. In Hardin County, tax bills can range significantly. At the 25th percentile, homeowners might pay around $416, while those at the 75th percentile could see bills as high as $1,270. For the top 10% of assessed homes, tax bills can reach up to $1,834. The highest median tax bill in the area is $776, which is consistent across all zip codes within Garden City. Comparatively, with the national median property tax rate at 0.99%, Garden City's rates and resulting tax bills can have a notable impact on homeowners, influencing their annual budgeting and overall financial planning.
Average Garden City Tax Bill
$776
Average Hardin County Tax Bill
$1,480
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Garden City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50102 | $116 | $416 | $776 | $1,270 | $1,834 |
Source: Ownwell