Remsen, Iowa Property Taxes
The median property tax rate in Remsen, IA is 1.08%, slightly above the national median of 0.99% but below the Iowa state median of 1.54%. With a median home value of $191,350 in Remsen, the typical annual property tax bill amounts to $1,929, which is less than the national median of $2,690. Property taxes in Remsen are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Remsen'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 Remsen or another part of Plymouth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Remsen, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,067
Ownwell’s Remsen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Remsen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Remsen 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 Plymouth County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Remsen, Iowa
Property taxes in Remsen, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Remsen is 1.08%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Remsen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Remsen 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 Remsen's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51050 zip code has the highest median property tax rate of 1.08%, while the 51050 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Remsen 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 Remsen Tax Rate
1.08%
Average Plymouth County Tax Rate
1.13%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Remsen, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51050 | 0.74% | 0.85% | 1.08% | 1.12% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Remsen, Iowa
In Remsen, 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 Plymouth 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 Remsen, 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. For example, the median home price in Remsen is $191,350, with median tax bills ranging from $1,406 at the 25th percentile to $3,718 at the 90th percentile. The highest median tax bill is $1,929 in zip code 51050, which is the same as the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Remsen Assessed Value
$191,350
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 Remsen, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51050 | $54,704 | $125,228 | $191,350 | $277,935 | $370,968 |
Source: Ownwell
Property Tax Bills Across Remsen, Iowa
In Remsen, Plymouth County, IA, property tax bills are calculated based on the assessed value of a property multiplied by the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies the assessment ratio. Homeowners in Remsen experience a range of property tax bills, with the 25th percentile at $1,406 and the 75th percentile at $2,638. The 90th percentile reaches up to $3,718. These tax bills are influenced by several factors, including the property's location, size, and any improvements made. The local tax rate, which is applied to the assessed value, is crucial in determining the final tax bill. For homeowners, these taxes fund essential services such as public education, infrastructure, and emergency services, directly impacting the community's quality of life. Comparing to the national median property tax rate of 0.99%, Remsen's property tax bills reflect the local economic conditions and funding needs.
Average Remsen Tax Bill
$1,929
Average Plymouth County Tax Bill
$2,246
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Remsen, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51050 | $972 | $1,406 | $1,929 | $2,638 | $3,718 |
Source: Ownwell