Garnavillo, Iowa Property Taxes
The median property tax rate in Garnavillo, IA is 1.22%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Garnavillo at $110,958, the typical annual property tax bill amounts to $1,404, falling below the national median of $2,690. Property taxes in Garnavillo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Garnavillo'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 Garnavillo 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
Garnavillo, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,354
Ownwell’s Garnavillo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garnavillo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garnavillo 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 Garnavillo, Iowa
Property taxes in Garnavillo, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garnavillo is 1.22%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Garnavillo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garnavillo 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 Garnavillo's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52049 zip code has both the highest and lowest median property tax rate of 1.22%. Understanding how these areas compare with Garnavillo provides valuable insights into the varying tax landscape across Clayton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garnavillo Tax Rate
1.22%
Average Clayton County Tax Rate
1.34%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garnavillo, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52049 | 0.99% | 1.04% | 1.22% | 1.47% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Garnavillo, Iowa
In Garnavillo, 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 Clayton 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 Garnavillo, 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 Garnavillo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $110,958, with the 25th percentile tax bill at $842 and the 75th percentile at $2,226. The highest and lowest median tax bills are both $1,404 in the 52049 zip code.
Average Garnavillo Assessed Value
$110,958
Average Clayton County Assessed Value
$133,780
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garnavillo, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52049 | $22,343 | $73,585 | $110,958 | $175,620 | $254,758 |
Source: Ownwell
Property Tax Bills Across Garnavillo, Iowa
In Garnavillo, located in Clayton County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the property tax rate set by local taxing authorities to arrive at the annual tax bill. For homeowners in Garnavillo, the tax bills can vary significantly. For instance, the 25th percentile tax bill is around $842, while the 75th percentile tax bill reaches approximately $2,226. At the higher end, the 90th percentile tax bill can go up to $3,121. Several factors influence these tax bills, including the home's market value, local tax rates, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, Garnavillo's tax rates reflect the local economic conditions and funding requirements for public services. Homeowners in Garnavillo should be aware of these factors as they can significantly impact their annual financial obligations and overall cost of homeownership.
Average Garnavillo Tax Bill
$1,404
Average Clayton County Tax Bill
$1,792
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Garnavillo, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52049 | $262 | $842 | $1,404 | $2,226 | $3,121 |
Source: Ownwell