Eagle Grove, Iowa Property Taxes
The median property tax rate in Eagle Grove, IA is 1.84%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Eagle Grove at $89,350, the typical annual property tax bill reaches $1,584, which is below the national median of $2,690. Property taxes in Eagle Grove 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 Eagle Grove'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 Eagle Grove 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
Eagle Grove, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$1,644
Ownwell’s Eagle Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eagle Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle Grove 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 Eagle Grove, Iowa
Property taxes in Eagle Grove, IA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Grove is 1.84%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Eagle Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle Grove 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 Eagle Grove's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50533 within Eagle Grove has the median property tax rate of 1.84%. Understanding how this compares with other areas provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eagle Grove Tax Rate
1.84%
Average Wright County Tax Rate
1.74%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50533 | 1.39% | 1.67% | 1.84% | 1.97% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Eagle Grove, Iowa
In Eagle Grove, 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 Wright 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 Eagle Grove, 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 Eagle Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,584 in zip code 50533, which is also the lowest median tax bill, highlighting a consistent tax burden across the region.
Average Eagle Grove Assessed Value
$89,350
Average Wright County Assessed Value
$98,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eagle Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50533 | $34,330 | $55,075 | $89,350 | $133,950 | $185,920 |
Source: Ownwell
Property Tax Bills Across Eagle Grove, Iowa
In Eagle Grove, located in Wright County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax owed. Factors such as property size, location, and market conditions can influence the assessed value. Homeowners in Eagle Grove experience a range of property tax bills. For instance, the 25th percentile tax bill is $990, while the 75th percentile tax bill is $2,350. At the higher end, the 90th percentile tax bill reaches $3,171. The highest median tax bill in the area is $1,584, found in the 50533 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Eagle Grove may find their tax bills vary significantly based on their property's assessed value and the local tax rate. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Eagle Grove Tax Bill
$1,584
Average Wright County Tax Bill
$1,678
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50533 | $604 | $990 | $1,584 | $2,350 | $3,171 |
Source: Ownwell