Conrad, Iowa Property Taxes
The median property tax rate in Conrad, IA is 1.30%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Conrad at $160,365, the typical annual property tax bill reaches $1,967, still below the national median of $2,690. Property taxes in Conrad are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Conrad'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 Conrad 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
Conrad, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,085
Ownwell’s Conrad Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Conrad with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Conrad 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 Conrad, Iowa
Property taxes in Conrad, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Conrad is 1.30%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Conrad set these rates annually, and they can vary significantly across different neighborhoods. Each year, Conrad 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 Conrad's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50621 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Conrad provides valuable insights into the varying tax landscape across Grundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Conrad Tax Rate
1.30%
Average Grundy County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Conrad, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50621 | 0.86% | 1.15% | 1.30% | 1.37% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Conrad, Iowa
In Conrad, 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 Grundy 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 Conrad, 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 Conrad helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Conrad is $1,967 in the 50621 zip code, while the lowest is also $1,967 in the same zip code.
Average Conrad Assessed Value
$160,365
Average Grundy County Assessed Value
$168,355
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Conrad, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50621 | $69,395 | $105,732 | $160,365 | $239,760 | $336,549 |
Source: Ownwell
Property Tax Bills Across Conrad, Iowa
In Conrad, Grundy County, IA, 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 annual tax bill. Various factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. For example, the median home price in Conrad is $160,365. Homeowners here can expect property tax bills ranging from $1,294 at the 25th percentile to $2,960 at the 75th percentile, with some reaching as high as $3,965 at the 90th percentile. This variability in tax bills highlights how differences in property values and assessments can significantly affect what homeowners owe. Comparatively, the national median property tax rate is 0.99%, making Conrad's property tax landscape relatively moderate. Understanding these factors helps homeowners anticipate their tax responsibilities and plan their finances accordingly.
Average Conrad Tax Bill
$1,967
Average Grundy County Tax Bill
$2,137
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Conrad, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50621 | $853 | $1,294 | $1,967 | $2,960 | $3,965 |
Source: Ownwell