Goodell, Iowa Property Taxes
The median property tax rate in Goodell, IA is 1.19%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Goodell at $71,700, the typical annual property tax bill amounts to $950, falling below the national median of $2,690. Property taxes in Goodell are calculated based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Goodell'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 Goodell 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
Goodell, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$853
Ownwell’s Goodell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goodell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goodell 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 Goodell, Iowa
Property taxes in Goodell, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goodell is 1.19%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Goodell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goodell 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 Goodell's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50439 zip code has both the highest and the lowest median property tax rate of 1.19%. Understanding how these cities compare with Goodell provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goodell Tax Rate
1.19%
Average Hancock County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goodell, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50439 | 0.87% | 1.00% | 1.19% | 1.66% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Goodell, Iowa
In Goodell, 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 Hancock 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 Goodell, 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 Goodell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Goodell are both $950 in zip code 50439.
Average Goodell Assessed Value
$71,700
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 Goodell, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50439 | $13,272 | $29,405 | $71,700 | $154,260 | $236,546 |
Source: Ownwell
Property Tax Bills Across Goodell, Iowa
In Goodell, located 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, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Goodell experience a range of property tax bills. For instance, the 25th percentile tax bill is around $458, while at the 75th percentile, it rises to $1,604. The 90th percentile sees tax bills as high as $2,639. The median home price in Goodell is $71,700, and the median property tax bill in the area is $950, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can make Goodell an attractive place for homeowners looking for affordability in property taxes.
Average Goodell Tax Bill
$950
Average Hancock County Tax Bill
$1,680
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Goodell, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50439 | $175 | $458 | $950 | $1,604 | $2,639 |
Source: Ownwell