Grand River, Iowa Property Taxes
The median property tax rate in Grand River, IA is 1.68%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Grand River, the typical annual property tax bill reaches $1,968, which is below the national median of $2,690. Property taxes in Grand River 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 Grand River'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 Grand River 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
Grand River, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$2,024
Ownwell’s Grand River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand River 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 Grand River, Iowa
Property taxes in Grand River, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand River is 1.68%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Grand River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand River 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 Grand River's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 50108 has the highest median property tax rate of 1.68%, while the lowest median tax rate is also 1.68% in the same zip code. Understanding how these areas compare with Grand River provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand River Tax Rate
1.68%
Average Clarke County Tax Rate
1.89%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand River, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50108 | 1.46% | 1.51% | 1.68% | 2.00% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Grand River, Iowa
In Grand River, 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 Clarke 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 Grand River, 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. The median home price in Grand River is $120,475, with tax bills ranging from $1,058 at the 25th percentile to $3,837 at the 90th percentile. 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 Grand River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grand River Assessed Value
$120,475
Average Clarke County Assessed Value
$115,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand River, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50108 | $32,234 | $58,758 | $120,475 | $181,115 | $253,714 |
Source: Ownwell
Property Tax Bills Across Grand River, Iowa
In Grand River, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to determine your annual property tax bill. Several factors influence the assessed value, including the size and condition of the property, recent sales of similar properties in the area, and any improvements or additions made to the home. In Clarke County, the median home price is $120,475, with property tax bills ranging from $1,058 at the 25th percentile to $3,837 at the 90th percentile. The highest and lowest median tax bills both stand at $1,968 in the zip code 50108, reflecting a consistent tax rate across different areas. Homeowners in Grand River should be aware that property taxes can significantly impact their annual expenses, making it crucial to understand how these taxes are calculated and to explore potential exemptions or appeals if necessary.
Average Grand River Tax Bill
$1,968
Average Clarke County Tax Bill
$2,187
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand River, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50108 | $566 | $1,058 | $1,968 | $3,216 | $3,837 |
Source: Ownwell