Grand Junction, Iowa Property Taxes
The median property tax rate in Grand Junction, IA is 1.44%, slightly lower than the state median of 1.54% but still higher than the national median of 0.99%. With a median home value of $63,400 in Grand Junction, the typical annual property tax bill amounts to $874, which is significantly below the national median of $2,690. Property taxes in Grand Junction are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Grand Junction'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 Grand Junction or another part of Greene County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grand Junction, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$913
Ownwell’s Grand Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Junction 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 Grand Junction, Iowa
Property taxes in Grand Junction, Iowa, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Junction is 1.44%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Grand Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Junction 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 Grand Junction's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50107 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Grand Junction provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Junction Tax Rate
1.44%
Average Greene County Tax Rate
1.35%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Junction, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50107 | 1.03% | 1.20% | 1.44% | 1.63% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Grand Junction, Iowa
In Grand Junction, 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 Greene 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 Grand Junction, 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 Grand Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50107 in Grand Junction has both the highest and lowest median tax bill at $874.
Average Grand Junction Assessed Value
$63,400
Average Greene County Assessed Value
$113,750
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Junction, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50107 | $12,100 | $29,000 | $63,400 | $113,450 | $189,300 |
Source: Ownwell
Property Tax Bills Across Grand Junction, Iowa
In Grand Junction, located in Greene County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market conditions can affect the assessed value, and consequently, the tax bill. Homeowners in Grand Junction experience a range of property tax bills. For example, the tax bill at the 25th percentile is $424, while the 75th percentile tax bill is $1,591. At the 90th percentile, homeowners may see tax bills as high as $2,480. The median property tax rate in Grand Junction is notably lower than the national median of 0.99%, making it relatively affordable for homeowners. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Grand Junction Tax Bill
$874
Average Greene County Tax Bill
$1,434
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Junction, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50107 | $167 | $424 | $874 | $1,591 | $2,480 |
Source: Ownwell