Alburnett, Iowa Property Taxes
The median property tax rate in Alburnett, IA is 1.76%, significantly higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Alburnett at $189,700, the typical annual property tax bill reaches $3,213, surpassing the national median of $2,690. Property taxes in Alburnett are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Alburnett'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 Alburnett or another part of Linn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alburnett, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$3,339
Ownwell’s Alburnett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alburnett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alburnett 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 Alburnett, Iowa
Property taxes in Alburnett, Iowa, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Alburnett is 1.76%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Alburnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alburnett 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 Alburnett's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 52202 has the highest median property tax rate of 1.76%, while the same zip code also has the lowest median tax rate of 1.76%. Understanding how these cities compare with Alburnett provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alburnett Tax Rate
1.76%
Average Linn County Tax Rate
1.84%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alburnett, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52202 | 1.40% | 1.45% | 1.76% | 1.82% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Alburnett, Iowa
In Alburnett, 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 Linn 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 Alburnett, 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 Alburnett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $3,213 in zip code 52202, which is also the lowest median tax bill for the region.
Average Alburnett Assessed Value
$189,700
Average Linn County Assessed Value
$173,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alburnett, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52202 | $99,360 | $135,950 | $189,700 | $259,050 | $332,800 |
Source: Ownwell
Property Tax Bills Across Alburnett, Iowa
In Alburnett, located in Linn County, IA, property tax bills are calculated based on the assessed value of a homeowner's property. This assessed value is determined by local assessors who evaluate various factors including the property's market value, location, and any improvements made to the property. Once the assessed value is established, a tax rate is applied to calculate the total tax bill. For homeowners in Alburnett, the tax bill can vary significantly. At the 25th percentile, the tax bill is approximately $2,390, while it climbs to $4,311 at the 75th percentile, and reaches up to $5,501 for the 90th percentile. These figures highlight the variation in tax burdens depending on property values and other factors. Comparatively, the national median property tax rate is 0.99%. Understanding how these taxes are calculated and their potential impact on household budgets is essential for homeowners in Alburnett. High property taxes can influence decisions on home improvements and even affect long-term financial planning.
Average Alburnett Tax Bill
$3,213
Average Linn County Tax Bill
$3,328
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Alburnett, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52202 | $1,721 | $2,390 | $3,213 | $4,311 | $5,501 |
Source: Ownwell