Knierim, Iowa Property Taxes
The median property tax rate in Knierim, IA is 0.92%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $58,080 in Knierim, the typical annual property tax bill amounts to $509, significantly below the national median of $2,690. Property taxes in Knierim are determined based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Knierim's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Knierim or another part of Calhoun County, familiarizing yourself with the local property tax structure will provide considerable financial benefits.
Last Updated June 14, 2024
Knierim, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$534
Ownwell’s Knierim Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knierim with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knierim 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 Knierim, Iowa
Property taxes in Knierim, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knierim is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Knierim set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knierim 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 Knierim's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 50552 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Knierim provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knierim Tax Rate
0.92%
Average Calhoun County Tax Rate
1.32%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knierim, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50552 | 0.73% | 0.81% | 0.92% | 1.11% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Knierim, Iowa
In Knierim, 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 Calhoun 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 Knierim, 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 Knierim 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 $509 in the 50552 zip code, while the lowest median tax bill is also $509 in the same zip code.
Average Knierim Assessed Value
$58,080
Average Calhoun County Assessed Value
$99,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knierim, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50552 | $14,950 | $27,935 | $58,080 | $76,035 | $97,730 |
Source: Ownwell
Property Tax Bills Across Knierim, Iowa
In Knierim, 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 then multiplied by the property tax rate set by local taxing authorities. For homeowners in Knierim, the median home price stands at $58,080. The property tax rate in the area is relatively low compared to the national median property tax rate of 0.99%. The tax bills in Knierim vary, with the 25th percentile at $230, the 75th percentile at $623, and the 90th percentile reaching up to $933. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Knierim benefit from lower property tax bills compared to many other regions, making it a more affordable place to live. This relatively low tax burden can significantly affect homeowners by reducing their monthly expenses and potentially increasing the overall affordability of owning a home in the area.
Average Knierim Tax Bill
$509
Average Calhoun County Tax Bill
$1,396
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Knierim, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50552 | $133 | $230 | $509 | $623 | $933 |
Source: Ownwell