Linn Grove, Clay County, Iowa Property Taxes
The median property tax rate in Linn Grove, IA is 1.03%, 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 $177,590, the typical annual property tax bill in Linn Grove amounts to $1,840, which is below the national median of $2,690. Property taxes in Linn Grove are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Linn Grove'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 Linn Grove 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
Linn Grove, Clay County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,829
$1,697
Ownwell’s Linn Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linn Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linn 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 Linn Grove, Clay County, Iowa
Property taxes in Linn Grove, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linn Grove is 1.25%, which is significantly higher than both the Iowa state median of 1.43% and the U.S. national median of 0.99%. Local government entities within Linn Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linn 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 Linn Grove's effective property tax rate to other counties in Iowa and the national median. For comparison, 51033 has the highest median property tax rate of 1.25%, while 51033 also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Linn Grove provides valuable insights into the varying tax landscape across Buena Vista County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linn Grove Tax Rate
1.03%
Average Clay County Tax Rate
1.37%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linn Grove, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51033 | 0.86% | 0.96% | 1.03% | 1.17% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Linn Grove, Clay County, Iowa
In Linn Grove, 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 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 Linn 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 Linn Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Linn Grove is $177,590, with annual tax bills ranging from $1,378 at the 25th percentile to $3,175 at the 90th percentile.
Property Tax Assessment Values Across Linn Grove, Clay County, Iowa
Source: Ownwell
$57,080
$137,660
$218,240
Average Linn Grove Assessed Value
$177,590
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 Linn Grove, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51033 | $83,040 | $123,205 | $177,590 | $222,692 | $285,736 |
Source: Ownwell
Property Tax Bills Across Linn Grove, Clay County, Iowa
In Linn Grove, Clay County, IA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in this city experience property tax rates that can vary significantly. For example, the 25th percentile tax bill is $1,378, while the 75th percentile tax bill reaches $2,294. At the 90th percentile, homeowners might face a tax bill as high as $3,175. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. The median home price in Linn Grove is $177,590, which gives a baseline for understanding these tax amounts. Compared to the national median property tax rate of 0.99%, Linn Grove's tax rates can be considered relatively high or low depending on the specific assessed value and local levies. For homeowners, these property taxes directly impact their annual financial planning and the overall cost of homeownership, making it crucial to understand how these figures are determined and what exemptions might apply.
Average Linn Grove Tax Bill
$1,840
Average Clay County Tax Bill
$1,910
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Linn Grove, Clay County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51033 | $826 | $1,378 | $1,840 | $2,294 | $3,175 |
Source: Ownwell