Gifford, Iowa Property Taxes
The median property tax rate in Gifford, IA is 1.19%, 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 of $58,940 in Gifford, the typical annual property tax bill amounts to $695, significantly below the national median of $2,690. Property taxes in Gifford are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Gifford's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Understanding the local property tax system is advantageous for both homeowners and real estate investors, whether you're in the heart of Gifford or another part of Hardin County.
Last Updated June 14, 2024
Gifford, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$701
Ownwell’s Gifford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Gifford with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gifford to project your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Gifford, Iowa
Property taxes in Gifford, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gifford is 1.19%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Gifford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gifford 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 Gifford's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50259 has both the highest and lowest median property tax rate of 1.19%. Understanding how these cities compare with Gifford provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gifford Tax Rate
1.19%
Average Hardin County Tax Rate
1.61%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gifford, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50259 | 0.95% | 1.03% | 1.19% | 1.34% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Gifford, Iowa
In Gifford, 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 Hardin 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 Gifford, 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 Gifford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is found in zip code 50259, amounting to $695.
Average Gifford Assessed Value
$58,940
Average Hardin County Assessed Value
$94,800
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gifford, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50259 | $14,623 | $39,742 | $58,940 | $71,248 | $123,022 |
Source: Ownwell
Property Tax Bills Across Gifford, Iowa
In Gifford, Hardin County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For context, the national median property tax rate is 0.99%. In Gifford, the median home price is $58,940. Homeowners in the 25th percentile typically see tax bills around $379, while those in the 75th percentile might pay approximately $935. At the 90th percentile, tax bills can reach up to $1,456. The highest and lowest median tax bills in the area are both reported at $695, specifically in the 50259 zip code. These variations in tax bills are influenced by factors such as property size, location, improvements, and local government budgets. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Gifford Tax Bill
$695
Average Hardin County Tax Bill
$1,480
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Gifford, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50259 | $175 | $379 | $695 | $935 | $1,456 |
Source: Ownwell