Graettinger, Iowa Property Taxes
The median property tax rate in Graettinger, IA is 1.17%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $180,300 in Graettinger, the typical annual property tax bill reaches $2,160, falling below the national median of $2,690. Property taxes in Graettinger are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Graettinger’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 Graettinger or another part of Emmet County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graettinger, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$2,110
Ownwell’s Graettinger Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graettinger with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graettinger 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 Graettinger, Iowa
Property taxes in Graettinger, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Graettinger is 1.17%, which is notably higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Graettinger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graettinger 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 Graettinger's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51342 has both the highest and lowest median property tax rate of 1.17%. Understanding how these areas compare with Graettinger provides valuable insights into the varying tax landscape across Emmet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graettinger Tax Rate
1.17%
Average Emmet County Tax Rate
1.51%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graettinger, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51342 | 1.01% | 1.06% | 1.17% | 1.30% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Graettinger, Iowa
In Graettinger, 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 Emmet 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 Graettinger, 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 Graettinger is $180,300, with tax bills ranging from $1,315 at the 25th percentile to $3,528 at the 90th percentile. The highest and lowest median tax bills are both $2,160 in the 51342 zip code. By understanding 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 Graettinger helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Graettinger Assessed Value
$180,300
Average Emmet County Assessed Value
$98,400
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graettinger, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51342 | $68,390 | $131,550 | $180,300 | $264,000 | $335,320 |
Source: Ownwell
Property Tax Bills Across Graettinger, Iowa
In Graettinger, located in Emmet County, IA, property tax bills are calculated based on the assessed value of a home. The county assessor determines this value, which is then used to calculate the tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements made to the home. The median home price in Graettinger is $180,300, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,315, while at the 75th percentile, it rises to $2,952. At the 90th percentile, homeowners can expect to pay around $3,528. These figures show a range of what homeowners might owe, depending on their property's assessed value and other factors. Compared to the national median property tax rate of 0.99%, Graettinger's tax rates reflect the local economic conditions and funding needs. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Graettinger Tax Bill
$2,160
Average Emmet County Tax Bill
$1,436
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Graettinger, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51342 | $985 | $1,315 | $2,160 | $2,952 | $3,528 |
Source: Ownwell