Moorhead, Iowa Property Taxes
The median property tax rate in Moorhead, Iowa is 1.02%, slightly above the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $192,680 in Moorhead, the typical annual property tax bill amounts to $2,086, which is below the national median of $2,690. Property taxes in Moorhead are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Moorhead'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 Moorhead or another part of Harrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moorhead, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,965
Ownwell’s Moorhead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moorhead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moorhead 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 Moorhead, Iowa
Property taxes in Moorhead, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moorhead is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Moorhead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moorhead 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 Moorhead's effective property tax rate to other areas in Harrison County and the national median. For comparison, the zip code 51558 has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these areas compare with Moorhead provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moorhead Tax Rate
1.02%
Average Harrison County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moorhead, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51558 | 0.91% | 0.95% | 1.02% | 1.19% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Moorhead, Iowa
In Moorhead, 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 Harrison 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 Moorhead, 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 Moorhead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 51558, with a median tax bill of $2,086.
Average Moorhead Assessed Value
$192,680
Average Harrison County Assessed Value
$150,125
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moorhead, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51558 | $86,582 | $133,260 | $192,680 | $278,935 | $434,020 |
Source: Ownwell
Property Tax Bills Across Moorhead, Iowa
In Moorhead, located in Harrison County, 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 a percentage of the market value of the property. In this region, property tax rates and the assessed value play crucial roles in determining the final tax bill. For instance, with a median home price of $192,680, homeowners can expect their tax bills to vary significantly. Factors such as the property's location, improvements, and market trends are considered during assessment. Homeowners in Moorhead experience a range of property tax bills, with the 25th percentile paying around $1,405 and the 75th percentile paying up to $2,924. The highest tax bills can reach approximately $4,724. These variations impact homeowners differently, influencing their financial planning and housing affordability. Compared to the national median property tax rate of 0.99%, Moorhead residents have a diverse range of property tax obligations based on their property's assessed value.
Average Moorhead Tax Bill
$2,086
Average Harrison County Tax Bill
$1,959
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Moorhead, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51558 | $998 | $1,405 | $2,086 | $2,924 | $4,724 |
Source: Ownwell