Blockton, Iowa Property Taxes
The median property tax rate in Blockton, IA is 1.20%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value in Blockton of $25,575, the typical annual property tax bill amounts to $324, significantly below the national median of $2,690. Property taxes in Blockton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Blockton'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 Blockton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blockton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$307
Ownwell’s Blockton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blockton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blockton 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 Blockton, Iowa
Property taxes in Blockton, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blockton is 1.20%, higher than the U.S. national median of 0.99%. Local government entities within Blockton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blockton 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 Blockton's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50836 zip code has the highest median property tax rate of 1.20%, while the 50836 zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Blockton provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blockton Tax Rate
1.20%
Average Taylor County Tax Rate
1.27%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blockton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50836 | 0.65% | 0.99% | 1.20% | 1.62% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Blockton, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Blockton, 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 Taylor 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 Blockton, 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 Blockton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50836 has the highest and lowest median tax bill, both at $324.
Average Blockton Assessed Value
$25,575
Average Taylor County Assessed Value
$80,810
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blockton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50836 | $1,672 | $6,828 | $25,575 | $82,838 | $252,197 |
Source: Ownwell
Property Tax Bills Across Blockton, Iowa
In Blockton, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the tax bill. For homeowners in Blockton, the median home price is $25,575. Property tax rates can vary within Taylor County, impacting the final tax bill. For example, the 25th percentile of tax bills in the area is $62, while the 75th percentile reaches $1,122, and the 90th percentile goes up to $2,662. The highest and lowest median tax bills in the region are both recorded at $324 in zip code 50836, highlighting some consistency in tax rates within that area. Compared to the national median property tax rate of 0.99%, Blockton’s property tax bills can present a significant variation, affecting homeowners differently depending on their property's assessed value and the specific tax rate applied.
Average Blockton Tax Bill
$324
Average Taylor County Tax Bill
$1,036
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Blockton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50836 | $22 | $62 | $324 | $1,122 | $2,662 |
Source: Ownwell