Cantril, Iowa Property Taxes
The median property tax rate in Cantril, IA is 1.10%, 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 $94,090 in Cantril, the typical annual property tax bill is around $1,005, which is significantly below the national median of $2,690. Property taxes in Cantril are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Cantril'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 Cantril or another part of Van Buren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cantril, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,035
Ownwell’s Cantril Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cantril with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cantril 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 Cantril, Iowa
Property taxes in Cantril, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cantril is 1.10%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Cantril set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cantril 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 Cantril's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 52542 has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these areas compare with Cantril provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cantril Tax Rate
1.10%
Average Van Buren County Tax Rate
1.04%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cantril, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52542 | 0.88% | 1.01% | 1.10% | 1.25% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Cantril, Iowa
In Cantril, 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 Van Buren 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 Cantril, 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 Cantril helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52542 has both the highest and lowest median tax bills, each at $1005.
Average Cantril Assessed Value
$94,090
Average Van Buren County Assessed Value
$93,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cantril, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52542 | $25,154 | $54,590 | $94,090 | $145,300 | $221,600 |
Source: Ownwell
Property Tax Bills Across Cantril, Iowa
In Cantril, located in Van Buren County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Cantril is $94,090. To determine the tax bill, the assessed value is multiplied by the local tax rate, which in this area results in a median tax bill of $1,005. This is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Cantril can expect their tax bills to vary, with the 25th percentile at $619, the 75th percentile at $1,572, and the 90th percentile reaching up to $2,172. Understanding these figures can help homeowners budget effectively and anticipate their annual property tax obligations. By staying informed about local property tax trends, homeowners can better manage their financial planning and ensure they are not caught off guard by their tax bills.
Average Cantril Tax Bill
$1,005
Average Van Buren County Tax Bill
$987
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cantril, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52542 | $299 | $619 | $1,005 | $1,572 | $2,172 |
Source: Ownwell