Guernsey, Iowa Property Taxes
The median property tax rate in Guernsey, IA is 1.36%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $165,820 in Guernsey, the typical annual property tax bill amounts to $1,910, falling below the national median of $2,690. Property taxes in Guernsey are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding Guernsey's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Guernsey or another part of the city, gaining knowledge of the local property tax system is crucial for financial planning and investment strategy.
Last Updated June 14, 2024
Guernsey, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$2,255
Ownwell’s Guernsey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guernsey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guernsey 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 Guernsey, Iowa
Property taxes in Guernsey, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guernsey is 1.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within Guernsey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guernsey 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 Guernsey's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52221 zip code has the highest median property tax rate of 1.36%, while the 52221 zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Guernsey provides valuable insights into the varying tax landscape across Iowa, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guernsey Tax Rate
1.36%
Average Iowa County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guernsey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52221 | 1.16% | 1.20% | 1.36% | 1.44% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Guernsey, Iowa
In Guernsey, 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 county's 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 Guernsey, 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 Guernsey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 52221, with a median tax bill of $1910.
Average Guernsey Assessed Value
$165,820
Average Iowa County Assessed Value
$157,090
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guernsey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52221 | $46,082 | $91,495 | $165,820 | $191,275 | $251,910 |
Source: Ownwell
Property Tax Bills Across Guernsey, Iowa
Property tax bills in Guernsey, Iowa, are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the property’s market value. This assessed value is then multiplied by the local property tax rate to determine the tax bill. For Guernsey, the median home price stands at $165,820, which provides a baseline for understanding property tax obligations. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, properties in zip code 52221, which has the highest median tax bill at $1,910, may have different characteristics compared to other areas. Homeowners in Guernsey experience property tax bills ranging from the 25th percentile at $1,298 to the 75th percentile at $2,416, with the 90th percentile reaching $2,605. These taxes fund essential local services such as schools, infrastructure, and emergency services, making them a crucial aspect of homeownership in the area. With the national median property tax rate at 0.99%, Guernsey homeowners should be aware of how their local rates compare and plan accordingly.
Average Guernsey Tax Bill
$1,910
Average Iowa County Tax Bill
$2,134
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Guernsey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52221 | $576 | $1,298 | $1,910 | $2,416 | $2,605 |
Source: Ownwell