Raymond, Black Hawk County, Iowa Property Taxes
The median property tax rate in Raymond, IA is 1.20%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Raymond at $206,270, the typical annual property tax bill reaches $2,520, slightly below the national median of $2,690. Property taxes in Raymond are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Raymond'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 Raymond or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Raymond, Black Hawk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,475
$2,297
Ownwell’s Raymond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raymond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymond 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 Raymond, Black Hawk County, Iowa
Property taxes in Raymond, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymond is 1.20%, higher than both the Iowa state median of 1.43% and the U.S. national median of 0.99%. Local government entities within Raymond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymond 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 Raymond's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50667 zip code has the highest median property tax rate of 1.20%, while the same zip code has the lowest median tax rate of 1.20%. Understanding how these cities compare with Raymond provides valuable insights into the varying tax landscape across Black Hawk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymond Tax Rate
1.20%
Average Black Hawk County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymond, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50667 | 1.15% | 1.18% | 1.20% | 1.24% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Black Hawk County, Iowa
In Raymond, 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 Black Hawk 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 Raymond, 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 Raymond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Raymond are both $2,520, found in the 50667 zip code.
Property Tax Assessment Values Across Raymond, Black Hawk County, Iowa
Source: Ownwell
$64,875
$177,100
$289,325
Average Raymond Assessed Value
$206,270
Average Black Hawk County Assessed Value
$149,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raymond, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50667 | $118,813 | $162,630 | $206,270 | $271,000 | $322,920 |
Source: Ownwell
Property Tax Bills Across Raymond, Black Hawk County, Iowa
In Raymond, property tax bills are calculated based on the assessed value of homes, which is determined by the county assessor. The assessed value typically represents a percentage of the market value. For instance, with a median home price of $206,270, the property tax rate in Black Hawk County plays a crucial role in determining the final tax bill. Several factors influence the property tax bill, including the property's location, size, and any applicable exemptions. In Raymond, the tax bill ranges significantly, with the 25th percentile paying around $1,954 and the 75th percentile facing about $3,272. Homeowners in the 90th percentile could see bills as high as $4,054. This variation underscores the importance of assessed values and local tax rates. The impact on homeowners can be substantial, influencing monthly budgets and long-term financial planning. With the national median property tax rate at 0.99%, understanding these local factors is essential for homeowners in managing their expenses effectively.
Average Raymond Tax Bill
$2,520
Average Black Hawk County Tax Bill
$2,318
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymond, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50667 | $1,440 | $1,954 | $2,520 | $3,272 | $4,054 |
Source: Ownwell