Blencoe, Iowa Property Taxes
The median property tax rate in Blencoe, IA is 1.04%, 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 Blencoe at $186,640, the typical annual property tax bill amounts to $1,716, which is below the national median of $2,690. Property taxes in Blencoe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Blencoe'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 Blencoe 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
Blencoe, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,941
Ownwell’s Blencoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blencoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blencoe 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 Blencoe, Iowa
Property taxes in Blencoe, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blencoe is 1.04%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Blencoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blencoe 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 Blencoe's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51523 zip code has the highest median property tax rate of 1.04%, while the 51523 zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Blencoe provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blencoe Tax Rate
1.04%
Average Harrison County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blencoe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51523 | 0.97% | 1.02% | 1.04% | 1.18% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Blencoe, Iowa
In Blencoe, 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 Harrison 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 Blencoe, 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 Blencoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill, both at $1,716, is 51523.
Average Blencoe Assessed Value
$186,640
Average Harrison County Assessed Value
$150,125
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blencoe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51523 | $22,720 | $57,880 | $186,640 | $211,320 | $226,610 |
Source: Ownwell
Property Tax Bills Across Blencoe, Iowa
In Blencoe, property tax bills are calculated based on the assessed value of a home. The assessment is determined by the local county assessor in Harrison County, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For instance, with a median home price of $186,640, homeowners can expect varying tax bills depending on specific factors such as property size, location, and improvements. Homeowners in Blencoe see a wide range in their tax bills. The 25th percentile tax bill is around $592, while those in the 75th percentile pay approximately $2,028. At the 90th percentile, tax bills can reach up to $2,308. These figures illustrate the disparity in property tax burdens among residents, influenced by the assessed value and applicable exemptions. Comparatively, the national median property tax rate is 0.99%, making Blencoe's tax rates a critical factor in homeownership costs. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Blencoe Tax Bill
$1,716
Average Harrison County Tax Bill
$1,959
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Blencoe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51523 | $316 | $592 | $1,716 | $2,028 | $2,308 |
Source: Ownwell