Coon Rapids, Iowa Property Taxes
The median property tax rate in Coon Rapids, IA, is 1.09%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Coon Rapids at $161,350, the typical annual property tax bill reaches $1,855, which is below the national median of $2,690. Property taxes in Coon Rapids are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Coon Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Coon Rapids 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
Coon Rapids, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,759
Ownwell’s Coon Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coon Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coon Rapids 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 Coon Rapids, Iowa
Property taxes in Coon Rapids, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coon Rapids is 1.09%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Coon Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coon Rapids 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 Coon Rapids' effective property tax rate to other counties in Iowa and the national median. For comparison, the 50058 zip code has the highest median property tax rate of 1.09%, while the same 50058 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Coon Rapids provides valuable insights into the varying tax landscape across Guthrie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coon Rapids Tax Rate
1.09%
Average Guthrie County Tax Rate
1.18%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coon Rapids, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50058 | 0.97% | 1.02% | 1.09% | 1.22% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Coon Rapids, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Coon Rapids, Iowa. 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 Guthrie 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 Coon Rapids, 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 Coon Rapids helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50058 has the highest and lowest median tax bill, both at $1855, which is higher than the national median property tax rate of 0.99%.
Average Coon Rapids Assessed Value
$161,350
Average Guthrie County Assessed Value
$152,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coon Rapids, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50058 | $65,860 | $106,425 | $161,350 | $224,275 | $306,030 |
Source: Ownwell
Property Tax Bills Across Coon Rapids, Iowa
In Coon Rapids, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local property tax rate to arrive at the annual tax bill. For instance, with a median home price of $161,350, homeowners can expect a tax bill that varies significantly depending on specific property characteristics and exemptions. Factors such as property size, location, and improvements can influence the assessed value. The tax bill for the 25th percentile is around $1,124, while it rises to $2,516 for the 75th percentile, and can reach up to $3,331 for the 90th percentile. These variations highlight the impact of different property values and local tax rates on homeowners. Compared to the national median property tax rate of 0.99%, the property tax burden in Coon Rapids can be substantial, affecting homeowners' annual financial planning and potentially influencing their decisions regarding property investments and home improvements.
Average Coon Rapids Tax Bill
$1,855
Average Guthrie County Tax Bill
$1,994
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Coon Rapids, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50058 | $742 | $1,124 | $1,855 | $2,516 | $3,331 |
Source: Ownwell