Greenville, Clay County, Iowa Property Taxes
The median property tax rate in Greenville, IA is 0.98%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With the median home value in Greenville, the typical annual property tax bill amounts to $1,128, which is less than the national median of $2,690. Property taxes in Greenville are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Greenville'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 Greenville 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
Greenville, Clay County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,084
$1,006
Ownwell’s Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, Clay County, Iowa
Property taxes in Greenville, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenville is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51343 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Greenville provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenville Tax Rate
0.98%
Average Clay County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenville, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51343 | 0.78% | 0.89% | 0.98% | 1.16% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, Clay County, Iowa
In Greenville, 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 Clay 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 Greenville, 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 Greenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 51343, at $1,128, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Greenville, Clay County, Iowa
Source: Ownwell
$57,080
$137,660
$218,240
Average Greenville Assessed Value
$110,580
Average Clay County Assessed Value
$145,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenville, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51343 | $17,282 | $46,790 | $110,580 | $190,050 | $296,614 |
Source: Ownwell
Property Tax Bills Across Greenville, Clay County, Iowa
In Greenville, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home's size, location, and condition are considered during the assessment process. For homeowners in Greenville, the median home price is $110,580. The property tax rate in Clay County is applied to this value to calculate the tax bill. Homeowners can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is $488, while the 75th percentile tax bill reaches $1,976, and the 90th percentile hits $2,933. The highest median tax bill recorded in the area is $1,128, which is consistent across the zip code 51343. These property taxes can impact homeowners by affecting their monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, the rates in Greenville offer a point of comparison for evaluating property tax burdens.
Average Greenville Tax Bill
$1,128
Average Clay County Tax Bill
$1,910
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51343 | $194 | $488 | $1,128 | $1,976 | $2,933 |
Source: Ownwell