Randolph, Iowa Property Taxes
The median property tax rate in Randolph, IA is 1.26%, 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 $110,800 in Randolph, the typical annual property tax bill amounts to $1,477, which is below the national median of $2,690. Property taxes in Randolph are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Randolph'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 Randolph or another part of Fremont County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Randolph, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,396
Ownwell’s Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Iowa
Property taxes in Randolph, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 1.26%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51649 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Randolph provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randolph Tax Rate
1.26%
Average Fremont County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51649 | 0.84% | 1.05% | 1.26% | 1.53% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Iowa
In Randolph, 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 local 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 Randolph, 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Randolph is $110,800, with property tax bills ranging significantly. The highest median tax bill is found in zip code 51649, amounting to $1,477.
Average Randolph Assessed Value
$110,800
Average Fremont County Assessed Value
$118,270
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Randolph, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51649 | $34,000 | $63,058 | $110,800 | $210,282 | $301,580 |
Source: Ownwell
Property Tax Bills Across Randolph, Iowa
In Randolph, located in Fremont County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Randolph is $110,800. The property tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions or deductions. For Randolph homeowners, tax bills can vary significantly. The 25th percentile tax bill is around $926, while the 75th percentile reaches $2,370, and the 90th percentile can go up to $3,345. Comparatively, the national median property tax rate is 0.99%. Homeowners in Randolph experience a range of tax bills, with the highest median tax bill in the area being $1,477 in the 51649 zip code. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Randolph Tax Bill
$1,477
Average Fremont County Tax Bill
$1,562
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51649 | $381 | $926 | $1,477 | $2,370 | $3,345 |
Source: Ownwell