Blue Grass, Iowa Property Taxes
The median property tax rate in Blue Grass, IA is 1.21%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Blue Grass at $279,350, the typical annual property tax bill reaches $3,290, surpassing the national median of $2,690. Property taxes in Blue Grass 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 Blue Grass'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 Blue Grass or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blue Grass, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$3,380
Ownwell’s Blue Grass Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blue Grass with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blue Grass 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 Blue Grass, Iowa
Property taxes in Blue Grass, Iowa, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue Grass is 1.21%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Blue Grass set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blue Grass 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 Blue Grass's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52726 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Blue Grass provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blue Grass Tax Rate
1.21%
Average Scott County Tax Rate
1.63%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue Grass, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52726 | 0.99% | 1.08% | 1.21% | 1.49% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Blue Grass, Iowa
In Blue Grass, 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 Scott 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 Blue Grass, 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. The median home price in Blue Grass is $279,350, with tax bills ranging from $2,622 at the 25th percentile to $5,568 at the 90th percentile. The highest and lowest median tax bills are both $3,290, found in zip code 52726. Being aware of these valuation processes in Blue Grass helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blue Grass Assessed Value
$279,350
Average Scott County Assessed Value
$184,110
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blue Grass, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52726 | $154,700 | $199,100 | $279,350 | $354,525 | $424,350 |
Source: Ownwell
Property Tax Bills Across Blue Grass, Iowa
In Blue Grass, Scott County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. For instance, with a median home price of $279,350, the tax bill varies significantly depending on the assessed value and the applicable tax rate. Homeowners in Blue Grass can expect their annual property tax bills to range widely, with the 25th percentile at $2,622 and the 75th percentile at $4,255. For those in the 90th percentile, the tax bill can reach up to $5,568. These figures indicate that property taxes in Blue Grass can be a substantial part of homeownership costs, influencing decisions on buying and selling properties. Compared to the national median property tax rate of 0.99%, homeowners in Blue Grass may find their tax bills to be competitive yet impactful. Understanding these factors helps homeowners budget effectively and plan for their financial future.
Average Blue Grass Tax Bill
$3,290
Average Scott County Tax Bill
$2,966
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue Grass, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52726 | $2,051 | $2,622 | $3,290 | $4,255 | $5,568 |
Source: Ownwell