Radcliffe, Iowa Property Taxes
The median property tax rate in Radcliffe, IA is 1.44%, 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 Radcliffe at $111,920, the typical annual property tax bill amounts to $1,501, which is below the national median of $2,690. Property taxes in Radcliffe are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Radcliffe'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 Radcliffe or another part of Hardin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Radcliffe, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,612
Ownwell’s Radcliffe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Radcliffe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Radcliffe 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 Radcliffe, Iowa
Property taxes in Radcliffe, Iowa, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Radcliffe is 1.44%, significantly higher than the U.S. national median of 0.99%. Local government entities within Radcliffe set these rates annually, and they can vary across different neighborhoods. Each year, Radcliffe 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 Radcliffe's effective property tax rate to other areas and the national median. For comparison, the 50230 zip code has both the highest and lowest median property tax rate of 1.44%. Understanding how these figures compare with Radcliffe 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 Radcliffe Tax Rate
1.44%
Average Hardin County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Radcliffe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50230 | 1.09% | 1.21% | 1.44% | 1.58% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Radcliffe, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Radcliffe, 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 Hardin 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 Radcliffe, 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. Radcliffe's median home price is $111,920, with tax bills ranging from $848 at the 25th percentile to $3,730 at the 90th percentile. The zip code 50230 has both the highest and lowest median tax bill at $1,501. Being aware of these valuation processes in Radcliffe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Radcliffe Assessed Value
$111,920
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 Radcliffe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50230 | $32,002 | $59,060 | $111,920 | $173,010 | $248,830 |
Source: Ownwell
Property Tax Bills Across Radcliffe, Iowa
In Radcliffe, located in Hardin County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, and therefore, the tax bill. Homeowners in Radcliffe experience a range of property tax bills. For instance, the 25th percentile tax bill is $848, while the 75th percentile reaches $2,472. At the higher end, the 90th percentile tax bill can be as much as $3,730. These variations highlight the impact of property value and assessment on tax obligations. Compared to the national median property tax rate of 0.99%, Radcliffe's property tax landscape provides a unique perspective on how local factors influence tax bills, affecting homeowners differently based on their property’s assessed value.
Average Radcliffe Tax Bill
$1,501
Average Hardin County Tax Bill
$1,480
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Radcliffe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50230 | $434 | $848 | $1,501 | $2,472 | $3,730 |
Source: Ownwell