Conrad, Marshall County, Iowa Property Taxes
The median property tax rate in Conrad, IA is 0.94%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With a median home value of $183,650 in Conrad, the typical annual property tax bill amounts to $1,700, which is well below the national median of $2,690. Property taxes in Conrad are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Conrad's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Conrad or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Conrad, Marshall County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,726
$1,602
Ownwell’s Conrad Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Conrad with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Conrad 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 Conrad, Marshall County, Iowa
Property taxes in Conrad, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Conrad is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Conrad set these rates annually, and they can vary significantly across different neighborhoods. Each year, Conrad 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 Conrad's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 50621 has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Conrad provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Conrad Tax Rate
0.94%
Average Marshall County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Conrad, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50621 | 0.72% | 0.81% | 0.94% | 1.00% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Conrad, Marshall County, Iowa
In Conrad, 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 Marshall 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 Conrad, 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 Conrad 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 50621, with a tax bill of $1,700.
Property Tax Assessment Values Across Conrad, Marshall County, Iowa
Source: Ownwell
$31,865
$126,573
$221,280
Average Conrad Assessed Value
$183,650
Average Marshall County Assessed Value
$128,210
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Conrad, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50621 | $91,296 | $152,360 | $183,650 | $249,130 | $306,574 |
Source: Ownwell
Property Tax Bills Across Conrad, Marshall County, Iowa
In Conrad, located in Marshall County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Conrad, the median home price is $183,650. The tax rate in Conrad can lead to varying tax bills. For instance, at the 25th percentile, homeowners might pay around $1,314 annually, while those at the 75th percentile could see tax bills as high as $2,440. At the 90th percentile, tax bills can reach up to $3,249. These figures indicate how property taxes can significantly impact homeowners' finances, with the highest median tax bill in the area being $1,700. Comparatively, the national median property tax rate stands at 0.99%, highlighting how local rates and home values can influence the overall tax burden. Understanding these factors helps homeowners in Conrad anticipate and manage their annual property tax expenses effectively.
Average Conrad Tax Bill
$1,700
Average Marshall County Tax Bill
$1,909
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Conrad, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50621 | $777 | $1,314 | $1,700 | $2,440 | $3,249 |
Source: Ownwell