Colesburg, Iowa Property Taxes
The median property tax rate in Colesburg, IA is 1.49%, which is considerably higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With a median home value of $124,000 in Colesburg, the typical annual property tax bill reaches $1,842, still below the national median of $2,690. Property taxes in Colesburg 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 Colesburg'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 Colesburg 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
Colesburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,848
Ownwell’s Colesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colesburg 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 Colesburg, Iowa
Property taxes in Colesburg, Iowa, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Colesburg is 1.49%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Colesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colesburg 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 Colesburg's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 52035 has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these figures compare with Colesburg provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colesburg Tax Rate
1.49%
Average Delaware County Tax Rate
1.30%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52035 | 1.12% | 1.38% | 1.49% | 1.57% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Colesburg, Iowa
In Colesburg, 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 Delaware 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 Colesburg, 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 Colesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Colesburg are both $1,842, found in the zip code 52035.
Average Colesburg Assessed Value
$124,000
Average Delaware County Assessed Value
$182,000
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52035 | $39,800 | $73,800 | $124,000 | $177,600 | $264,100 |
Source: Ownwell
Property Tax Bills Across Colesburg, Iowa
In Colesburg, Delaware County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For a median home price of $124,000, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Several factors influence the tax bill, including property size, location, and improvements. The tax bill can range significantly, with the 25th percentile at $1,042 and the 75th percentile at $2,442. At the higher end, the 90th percentile tax bill reaches $3,484. Compared to the national median property tax rate of 0.99%, Colesburg's property tax rates can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Colesburg Tax Bill
$1,842
Average Delaware County Tax Bill
$2,420
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Colesburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52035 | $524 | $1,042 | $1,842 | $2,442 | $3,484 |
Source: Ownwell