Coralville, Johnson County, Iowa Property Taxes
The median property tax rate in Coralville, IA is 1.79%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Coralville at $207,750, the typical annual property tax bill reaches $3,504, exceeding the national median of $2,690. Property taxes in Coralville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coralville'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 Coralville or another part of Johnson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coralville, Johnson County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.79%
Estimate Property Tax Bill
$3,719
$3,451
Ownwell’s Coralville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coralville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coralville 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 Coralville, Johnson County, Iowa
Property taxes in Coralville, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coralville is 1.79%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Coralville set these rates annually, and they can vary across different neighborhoods. Each year, Coralville 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 Coralville's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52241 has the highest median property tax rate of 1.79%, while the same zip code also has the lowest median tax rate of 1.79%. Understanding how these cities compare with Coralville provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coralville Tax Rate
1.79%
Average Johnson County Tax Rate
1.71%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coralville, Johnson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52241 | 1.58% | 1.68% | 1.79% | 1.93% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Coralville, Johnson County, Iowa
In Coralville, 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 Johnson 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 Coralville, 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 Coralville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Coralville is $207,750, with tax bills ranging from $2,298 at the 25th percentile to $8,372 at the 90th percentile. The highest and lowest median tax bills are both $3,504 in the 52241 zip code.
Property Tax Assessment Values Across Coralville, Johnson County, Iowa
Source: Ownwell
$170,805
$254,753
$338,700
Average Coralville Assessed Value
$207,750
Average Johnson County Assessed Value
$229,790
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coralville, Johnson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52241 | $77,350 | $123,000 | $207,750 | $346,000 | $485,800 |
Source: Ownwell
Property Tax Bills Across Coralville, Johnson County, Iowa
In Coralville, located in Johnson County, IA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and represents the market value of the property. Homeowners in Coralville experience property tax rates that can significantly impact their annual expenses. For instance, the median home price in the area is $207,750. The tax bill for homeowners at the 25th percentile is $2,298 annually, while those at the 75th percentile pay around $5,878. At the higher end, the 90th percentile sees tax bills reaching up to $8,372. These tax bills are a result of multiplying the assessed property value by the local tax rate. Compared to the national median property tax rate of 0.99%, Coralville's property taxes can be seen as relatively high, influencing homeowners' decisions and financial planning. The highest and lowest median tax bills in the city both stand at $3,504, indicating a degree of uniformity in the tax burden across different properties.
Average Coralville Tax Bill
$3,504
Average Johnson County Tax Bill
$3,786
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Coralville, Johnson County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52241 | $1,538 | $2,298 | $3,504 | $5,878 | $8,372 |
Source: Ownwell