Eagle Grove, Iowa Property Taxes
The median property tax rate in Eagle Grove, IA is 1.16%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $166,505 in Eagle Grove, the typical annual property tax bill amounts to $1,986, which is below the national median of $2,690. Property taxes in Eagle Grove are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By comprehending Eagle Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether residing in Eagle Grove or investing in local real estate, understanding the intricacies of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Eagle Grove, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,931
Ownwell’s Eagle Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eagle Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle Grove 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 Eagle Grove, Iowa
Property taxes in Eagle Grove, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Grove is 1.16%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Eagle Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle 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 Eagle Grove's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50533 zip code has the highest median property tax rate of 1.16%, while the 50533 zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Eagle Grove provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eagle Grove Tax Rate
1.16%
Average Webster County Tax Rate
1.86%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50533 | 1.11% | 1.12% | 1.16% | 1.22% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Eagle Grove, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eagle Grove, 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 Webster 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 Eagle 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. 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 Eagle Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50533 has both the highest and lowest median tax bills, each at $1,986, reflecting consistent property tax assessments across the area.
Average Eagle Grove Assessed Value
$166,505
Average Webster County Assessed Value
$94,900
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eagle Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50533 | $126,213 | $142,702 | $166,505 | $222,090 | $246,537 |
Source: Ownwell
Property Tax Bills Across Eagle Grove, Iowa
In Eagle Grove, IA, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Homeowners in Eagle Grove can expect their property tax bills to vary based on several factors, including the assessed value of their property and the specific tax rate set by local authorities. For instance, with a median home price of $166,505, tax bills in Eagle Grove range from $1,780 at the 25th percentile to $2,890 at the 90th percentile. The highest median tax bill in the 50533 zip code stands at $1,986, which is slightly above the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, influencing their overall cost of living and potentially affecting decisions related to property investment and home ownership in the area.
Average Eagle Grove Tax Bill
$1,986
Average Webster County Tax Bill
$1,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Grove, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50533 | $1,487 | $1,780 | $1,986 | $2,266 | $2,890 |
Source: Ownwell