Blakesburg, Iowa Property Taxes
The median property tax rate in Blakesburg, IA is 1.23%, 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 $93,540 in Blakesburg, the typical annual property tax bill is around $1,147, which is below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding Blakesburg'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 Blakesburg or the surrounding areas, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blakesburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,151
Ownwell’s Blakesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blakesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blakesburg 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 Blakesburg, Iowa
Property taxes in Blakesburg, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blakesburg is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Blakesburg set these rates annually, and they can vary across different neighborhoods. Each year, Blakesburg 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 Blakesburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52536 in Monroe County has both the highest and lowest median property tax rate of 1.23%. Understanding how these figures compare with Blakesburg provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blakesburg Tax Rate
1.23%
Average Monroe County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blakesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52536 | 1.08% | 1.13% | 1.23% | 1.42% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Blakesburg, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Blakesburg, Iowa. 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 Monroe 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 Blakesburg, 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 Blakesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price is $93,540, with tax bills ranging from $664 at the 25th percentile to $2,678 at the 90th percentile. The highest and lowest median tax bill in Blakesburg is $1,147, notably found in the 52536 zip code.
Average Blakesburg Assessed Value
$93,540
Average Monroe County Assessed Value
$86,560
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blakesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52536 | $19,880 | $45,878 | $93,540 | $148,615 | $230,215 |
Source: Ownwell
Property Tax Bills Across Blakesburg, Iowa
In Blakesburg, Monroe County, IA, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the county assessor and reflects the value of the property for tax purposes. This value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $93,540, homeowners in Blakesburg can expect varying tax bills. At the 25th percentile, the tax bill is around $664, while at the 75th percentile, it rises to approximately $1,760. For those at the 90th percentile, the tax bill can reach up to $2,678. These figures indicate a range of potential tax burdens, influenced by factors such as property size, location, and any applicable exemptions. The highest median tax bill in the area is $1,147, which is relatively moderate compared to the national median property tax rate of 0.99%. This system ensures that homeowners contribute fairly to local services and infrastructure based on their property’s assessed value.
Average Blakesburg Tax Bill
$1,147
Average Monroe County Tax Bill
$1,330
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Blakesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52536 | $318 | $664 | $1,147 | $1,760 | $2,678 |
Source: Ownwell