Bradgate, Iowa Property Taxes
The median property tax rate in Bradgate, IA is 0.84%, which is notably lower than both the national median of 0.99% and the Iowa state median of 1.54%. With a median home value of $150,594 in Bradgate, the typical annual property tax bill amounts to $1,314, significantly below the national median of $2,690. Property taxes in Bradgate are determined based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Bradgate's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Bradgate or elsewhere in Pocahontas County, comprehending the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bradgate, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,265
Ownwell’s Bradgate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradgate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradgate 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 Bradgate, Iowa
Property taxes in Bradgate, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradgate is 0.84%, which is lower than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Bradgate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradgate 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 Bradgate's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50520 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Bradgate provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradgate Tax Rate
0.84%
Average Pocahontas County Tax Rate
1.38%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradgate, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50520 | 0.81% | 0.82% | 0.84% | 0.94% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Bradgate, Iowa
In Bradgate, 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 Pocahontas 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 Bradgate, 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 Bradgate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50520 has both the highest and lowest median tax bill at $1,314, reflecting the uniformity in tax assessments within the area.
Average Bradgate Assessed Value
$150,594
Average Pocahontas County Assessed Value
$72,338
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradgate, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50520 | $110,690 | $125,654 | $150,594 | $157,370 | $161,435 |
Source: Ownwell
Property Tax Bills Across Bradgate, Iowa
In Bradgate, located in Pocahontas County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and physical characteristics such as size, age, and condition. For homeowners in Bradgate, the median home price is $150,594. Property tax bills can vary, with the 25th percentile at $1,080 and the 75th percentile at $1,445. The highest median tax bill recorded is $1,314 in the 50520 zip code, which is also the lowest median tax bill, indicating uniformity in tax assessments within the area. Compared to the national median property tax rate of 0.99%, Bradgate homeowners experience a tax rate that can result in significant annual expenses. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Bradgate Tax Bill
$1,314
Average Pocahontas County Tax Bill
$919
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradgate, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50520 | $940 | $1,080 | $1,314 | $1,445 | $1,524 |
Source: Ownwell