Hancock County, Iowa Property Taxes
The median property tax rate in Hancock County is 1.39%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Hancock County at $129,985, the typical annual property tax bill reaches $1,680, which is below the national median of $2,690. Property taxes in Hancock County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Hancock County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Garner or another part of Hancock County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hancock County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,807
$1,677
Ownwell’s Hancock County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hancock County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Hancock County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Hancock County, Iowa
Property taxes in Hancock County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Hancock County is 1.39%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Hancock County set these rates annually, and they can vary significantly between different areas within the county. Each year, Hancock County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Britt has one of the higher property tax rates in Iowa at 1.60%, while the city of Fertile boasts one of the lowest at 0.91%. Analyzing how Hancock County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Hancock County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hancock County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belmond | N/A | N/A | N/A | N/A | N/A |
| Britt | 0.98% | 1.13% | 1.60% | 1.74% | 1.81% |
| Corwith | 0.88% | 1.02% | 1.31% | 1.64% | 1.66% |
| Crystal Lake | 0.92% | 1.09% | 1.25% | 1.39% | 1.58% |
| Fertile | N/A | N/A | N/A | N/A | N/A |
| Forest City | 0.91% | 1.01% | 1.14% | 1.74% | 1.83% |
| Garner | 1.01% | 1.21% | 1.44% | 1.50% | 1.54% |
| Goodell | 0.87% | 1.00% | 1.19% | 1.66% | 1.72% |
| Kanawha | 0.92% | 1.06% | 1.42% | 1.64% | 1.74% |
| Klemme | 0.88% | 0.99% | 1.08% | 1.20% | 1.41% |
| Meservey | 0.84% | 0.93% | 0.99% | 1.05% | 1.13% |
| Titonka | N/A | N/A | N/A | N/A | N/A |
| Ventura | 0.85% | 1.00% | 1.05% | 1.11% | 1.29% |
| Wesley | 0.83% | 0.92% | 0.97% | 1.07% | 1.21% |
| Woden | 0.92% | 1.04% | 1.17% | 1.43% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Hancock County, Iowa
In Hancock County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Hancock County Appraisal District. The assessed value, however, 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. Assessment notices in Hancock County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Garner has the highest median tax bill at $2,350, while Woden has the lowest at $707. Being aware of these valuation processes in Hancock County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Hancock County Assessed Value
$129,985
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hancock County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belmond | N/A | N/A | N/A | N/A | N/A |
| Britt | $40,984 | $71,312 | $115,220 | $180,472 | $270,021 |
| Corwith | $14,780 | $29,800 | $54,660 | $99,660 | $223,260 |
| Crystal Lake | $15,875 | $34,278 | $66,280 | $90,520 | $121,908 |
| Fertile | N/A | N/A | N/A | N/A | N/A |
| Forest City | $2,696 | $91,890 | $199,240 | $295,510 | $381,899 |
| Garner | $71,366 | $120,300 | $179,170 | $254,320 | $343,876 |
| Goodell | $13,272 | $29,405 | $71,700 | $154,260 | $236,546 |
| Kanawha | $25,955 | $54,052 | $88,095 | $139,170 | $224,145 |
| Klemme | $18,264 | $42,700 | $84,575 | $131,408 | $208,828 |
| Meservey | $66,033 | $110,192 | $155,660 | $200,090 | $251,073 |
| Titonka | N/A | N/A | N/A | N/A | N/A |
| Ventura | $135,460 | $160,302 | $221,055 | $272,812 | $360,835 |
| Wesley | $75,710 | $117,220 | $182,270 | $279,825 | $367,780 |
| Woden | $20,530 | $34,300 | $58,030 | $122,715 | $268,070 |
Source: Ownwell
Property Tax Bills Across Hancock County, Iowa
In Hancock County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and represents the market value of the property. This value is then multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in Hancock County experience varying tax bills depending on their property's value and location. For instance, the median home price in the county is $129,985, with tax bills ranging from the 25th percentile at $896 to the 90th percentile at $3,991. The city of Garner has the highest median tax bill at $2,350, while Woden has the lowest at $707. These tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Comparatively, the national median property tax rate is 0.99%, highlighting the variability in property tax burdens across different regions.
Average Hancock County Tax Bill
$1,680
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Hancock County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belmond | N/A | N/A | N/A | N/A | N/A |
| Britt | $597 | $1,026 | $1,692 | $2,491 | $3,682 |
| Corwith | $190 | $370 | $772 | $1,408 | $2,189 |
| Crystal Lake | $130 | $441 | $800 | $1,161 | $1,476 |
| Fertile | N/A | N/A | N/A | N/A | N/A |
| Forest City | $49 | $816 | $2,126 | $3,482 | $5,153 |
| Garner | $886 | $1,574 | $2,350 | $3,424 | $4,658 |
| Goodell | $175 | $458 | $950 | $1,604 | $2,639 |
| Kanawha | $359 | $763 | $1,179 | $1,831 | $2,614 |
| Klemme | $234 | $490 | $886 | $1,374 | $2,335 |
| Meservey | $580 | $990 | $1,486 | $2,098 | $2,699 |
| Titonka | N/A | N/A | N/A | N/A | N/A |
| Ventura | $1,270 | $1,694 | $2,326 | $2,872 | $3,868 |
| Wesley | $668 | $1,168 | $1,834 | $2,682 | $3,784 |
| Woden | $243 | $408 | $707 | $1,314 | $2,765 |
Source: Ownwell