Granville, Iowa Property Taxes
The median property tax rate in Granville, IA is 0.86%, which is lower than both the national median of 0.99% and Iowa's state median of 1.54%. With a median home value of $215,230 in Granville, the typical annual property tax bill amounts to $1,580, falling below the national median of $2,690. Property taxes in Granville are calculated based on the tax assessed value, which often is less than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Granville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're located in the heart of Granville or another part of Plymouth County, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Granville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,851
Ownwell’s Granville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granville 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 Granville, Iowa
Property taxes in Granville, Iowa, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Granville is 0.86%, which is below the U.S. national median of 0.99%. Local government entities within Granville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granville 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 Granville's effective property tax rate to other areas in Plymouth County and the national median. For comparison, the 51022 zip code has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Granville provides valuable insights into the varying tax landscape across Plymouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granville Tax Rate
0.86%
Average Plymouth County Tax Rate
1.13%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51022 | 0.76% | 0.80% | 0.86% | 0.92% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Granville, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Granville, 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 Plymouth 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 Granville, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median tax bill in Granville is $1580.00, with the same amount being the highest and lowest median tax bill in the 51022 zip code. This contrasts with the national median property tax rate of 0.99%, highlighting the importance of understanding local tax assessments.
Average Granville Assessed Value
$215,230
Average Plymouth County Assessed Value
$198,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51022 | $129,958 | $161,935 | $215,230 | $261,910 | $289,918 |
Source: Ownwell
Property Tax Bills Across Granville, Iowa
In Granville, located in Plymouth County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, the median home price in Granville is $215,230. Homeowners in this area can expect their property tax bills to vary significantly. The 25th percentile tax bill is $1,325, while those in the 75th percentile pay around $2,121. The 90th percentile sees tax bills as high as $2,446. These tax bills are influenced by factors such as property improvements, neighborhood developments, and market conditions. Compared to the national median property tax rate of 0.99%, Granville's property taxes reflect local economic conditions and municipal budget requirements. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are prepared for the annual property tax assessment.
Average Granville Tax Bill
$1,580
Average Plymouth County Tax Bill
$2,246
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Granville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51022 | $1,172 | $1,325 | $1,580 | $2,121 | $2,446 |
Source: Ownwell