Gladbrook, Iowa Property Taxes
The median property tax rate in Gladbrook, IA is 1.07%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $166,840 in Gladbrook, the typical annual property tax bill is $1,640, which is below the national median of $2,690. Property taxes in Gladbrook are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Gladbrook'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 Gladbrook or another part of Marshall County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gladbrook, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,785
Ownwell’s Gladbrook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gladbrook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gladbrook 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 Gladbrook, Iowa
Property taxes in Gladbrook, Iowa, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gladbrook is 1.07%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Gladbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gladbrook 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 Gladbrook's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 50635 has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Gladbrook provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gladbrook Tax Rate
1.07%
Average Marshall County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gladbrook, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50635 | 0.72% | 0.83% | 1.07% | 1.17% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Gladbrook, Iowa
In Gladbrook, 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 Marshall 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 Gladbrook, 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 Gladbrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $1,640, found in zip code 50635.
Average Gladbrook Assessed Value
$166,840
Average Marshall County Assessed Value
$128,210
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gladbrook, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50635 | $137,966 | $148,720 | $166,840 | $242,390 | $283,634 |
Source: Ownwell
Property Tax Bills Across Gladbrook, Iowa
In Gladbrook, located in Marshall County, IA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements or renovations. For example, the median home price in Gladbrook is $166,840. Homeowners in the 25th percentile can expect a tax bill around $1,356, while those in the 75th percentile may see bills as high as $2,993. At the 90th percentile, tax bills can reach up to $3,261. These property tax bills significantly impact homeowners, influencing their monthly expenses and overall cost of living. Compared to the national median property tax rate of 0.99%, the local rates in Gladbrook reflect the specific economic and real estate conditions of the area.
Average Gladbrook Tax Bill
$1,640
Average Marshall County Tax Bill
$1,909
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Gladbrook, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50635 | $1,017 | $1,356 | $1,640 | $2,993 | $3,261 |
Source: Ownwell