Radcliffe, Iowa Property Taxes
The median property tax rate in Radcliffe, IA is 1.12%, slightly above the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Radcliffe at $231,350, the typical annual property tax bill amounts to $3,221, surpassing the national median of $2,690. Property taxes in Radcliffe are based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Radcliffe'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 Radcliffe or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Radcliffe, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$2,591
Ownwell’s Radcliffe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Radcliffe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Radcliffe 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 Radcliffe, Iowa
Property taxes in Radcliffe, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Radcliffe is 1.23%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Radcliffe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Radcliffe 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 Radcliffe's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50230 zip code has the highest median property tax rate of 1.23%, while the 50230 zip code has the lowest median tax rate of 1.23%. Understanding how these cities compare with Radcliffe provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Radcliffe Tax Rate
1.12%
Average Story County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Radcliffe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50230 | 0.87% | 0.92% | 1.12% | 1.41% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Radcliffe, Iowa
In Radcliffe, 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 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 Radcliffe, 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 Radcliffe 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 50230, valued at $3,221.
Average Radcliffe Assessed Value
$231,350
Average Story County Assessed Value
$219,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Radcliffe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50230 | $154,860 | $181,050 | $231,350 | $358,475 | $522,950 |
Source: Ownwell
Property Tax Bills Across Radcliffe, Iowa
In Radcliffe, Story County, IA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value reflects the market value of the property, which is periodically evaluated by county assessors. Several factors influence this assessment, including the property's location, size, and condition. In Radcliffe, the median home price stands at $231,350, which provides a baseline for these calculations. Homeowners in Radcliffe experience a range of property tax bills. The tax bill at the 25th percentile is $1,750, while at the 75th percentile, it climbs to $4,980. For those in the 90th percentile, the tax bill can reach up to $5,561. These figures illustrate the variability in property tax obligations, influenced by differences in property values and specific assessment details. Compared to the national median property tax rate of 0.99%, Radcliffe's property tax rates can significantly impact homeowners, with some paying substantially more or less depending on their property's assessed value and the local tax rate.
Average Radcliffe Tax Bill
$3,221
Average Story County Tax Bill
$2,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Radcliffe, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50230 | $1,688 | $1,750 | $3,221 | $4,980 | $5,561 |
Source: Ownwell