Pilot Grove, Iowa Property Taxes
The median property tax rate in Pilot Grove, IA is 1.11%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Pilot Grove at $103,730, the typical annual property tax bill amounts to $1,138, which is below the national median of $2,690. Property taxes in Pilot Grove are determined based on the tax assessed value, often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Pilot Grove's property tax system, exploring the available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in Pilot Grove or another nearby area, familiarizing yourself with the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Pilot Grove, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,151
Ownwell’s PILOT GROVE Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in PILOT GROVE using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PILOT GROVE to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, enabling better financial planning. For those interested in more granular details, scrolling down reveals localized trends and information. Your property’s assessed value, determined by the county, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Pilot Grove, Iowa
Property taxes in Pilot Grove, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pilot Grove is 1.11%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Pilot Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pilot Grove 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 Pilot Grove's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52648 has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Pilot Grove provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pilot Grove Tax Rate
1.11%
Average Lee County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pilot Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52648 | 1.03% | 1.08% | 1.11% | 1.16% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Pilot Grove, Iowa
In Pilot Grove, 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 Lee 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 Pilot Grove, 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. For example, the median home price in Pilot Grove is $103,730, with tax bills ranging from $845 at the 25th percentile to $2,206 at the 90th percentile. The highest and lowest median tax bills are both $1,138, found in the 52648 zip code. 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 Pilot Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pilot Grove Assessed Value
$103,730
Average Lee County Assessed Value
$99,640
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pilot Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52648 | $58,033 | $78,160 | $103,730 | $172,378 | $201,620 |
Source: Ownwell
Property Tax Bills Across Pilot Grove, Iowa
In Pilot Grove, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value, reflecting its worth in the current real estate market. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence this calculation, including changes in the real estate market, improvements made to the property, and any applicable exemptions or deductions. For homeowners in Pilot Grove, the median home price is $103,730, which helps set a baseline for tax assessments. The tax bills can vary significantly, with the 25th percentile at $845 and the 75th percentile reaching $1,990, while the 90th percentile is $2,206. These property taxes fund essential community services such as schools, public safety, and infrastructure maintenance, directly impacting the quality of life in the area. Homeowners need to stay informed about their property’s assessed value and any changes in tax rates to manage their financial planning effectively.
Average Pilot Grove Tax Bill
$1,138
Average Lee County Tax Bill
$1,604
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Pilot Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52648 | $567 | $845 | $1,138 | $1,990 | $2,206 |
Source: Ownwell