Cooper, Iowa Property Taxes
The median property tax rate in Cooper, Iowa is 1.19%, 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 $79,700 in Cooper, the typical annual property tax bill amounts to $760, significantly below the national median of $2,690. Property taxes in Cooper are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Cooper's property tax system, exploring available exemptions, and seeking opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Cooper or elsewhere in the city, familiarizing yourself with the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Cooper, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$948
Ownwell’s Cooper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cooper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cooper 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 Cooper, Iowa
Property taxes in Cooper, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cooper is 1.19%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cooper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cooper 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 Cooper's effective property tax rate to other regions and the national median. For comparison, the zip code 50059 has both the highest and lowest median property tax rate of 1.19%. Understanding how these areas compare with Cooper provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cooper Tax Rate
1.19%
Average Greene County Tax Rate
1.35%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cooper, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50059 | 1.02% | 1.11% | 1.19% | 1.25% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Cooper, Iowa
In Cooper, 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 Greene County 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 Cooper, 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 Cooper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50059 at $760, which is also the lowest median tax bill in the area.
Average Cooper Assessed Value
$79,700
Average Greene County Assessed Value
$113,750
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cooper, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50059 | $14,280 | $32,400 | $79,700 | $104,800 | $169,060 |
Source: Ownwell
Property Tax Bills Across Cooper, Iowa
In Cooper, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners, this means that factors such as the size, location, and condition of their property can significantly influence their tax obligations. In Greene County, where Cooper is located, the median home price is $79,700. The property tax bills can vary widely, with the 25th percentile at $386 and the 75th percentile reaching $1,314. At the 90th percentile, homeowners might see tax bills as high as $1,939. This variation highlights how different factors such as neighborhood developments and property improvements can affect tax assessments. Compared to the national median property tax rate of 0.99%, Cooper’s rates can be seen as relatively moderate, providing a balanced approach to funding local services while considering homeowners' financial burdens.
Average Cooper Tax Bill
$760
Average Greene County Tax Bill
$1,434
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cooper, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50059 | $175 | $386 | $760 | $1,314 | $1,939 |
Source: Ownwell