Haverhill, Marshall County, Iowa Property Taxes
The median property tax rate in Haverhill, IA is 1.43%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $139,090 in Haverhill, the typical annual property tax bill amounts to $2,063, falling below the national median of $2,690. Property taxes in Haverhill are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Grasping Haverhill's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Haverhill or another part of Marshall County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Haverhill, Marshall County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,989
$1,846
Ownwell’s Haverhill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haverhill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haverhill 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 Haverhill, Marshall County, Iowa
Property taxes in Haverhill, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Haverhill is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Haverhill set these rates annually, and they can vary across different neighborhoods. Each year, Haverhill 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 Haverhill's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50120 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Haverhill 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 Haverhill Tax Rate
1.43%
Average Marshall County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Haverhill, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50120 | 0.96% | 1.15% | 1.43% | 1.72% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Haverhill, Marshall County, Iowa
In Haverhill, 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 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 Haverhill, 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. The median home price in Haverhill is $139,090, with tax bills ranging from $1,550 at the 25th percentile to $3,761 at the 90th percentile. The highest and lowest median tax bills are both $2,063, found in the 50120 zip code. 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 Haverhill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Haverhill, Marshall County, Iowa
Source: Ownwell
$31,865
$126,573
$221,280
Average Haverhill Assessed Value
$139,090
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 Haverhill, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50120 | $75,776 | $99,395 | $139,090 | $193,148 | $295,595 |
Source: Ownwell
Property Tax Bills Across Haverhill, Marshall County, Iowa
In Haverhill, Marshall County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The 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 Haverhill see a range of tax bills; the 25th percentile tax bill is $1,550, while the 75th percentile reaches $2,838. For those in the 90th percentile, tax bills can be as high as $3,761. The median home price in Haverhill is $139,090, and the median property tax rate in the area is generally comparable to the national median rate of 0.99%. This means that property taxes in Haverhill can significantly impact household budgets, especially for those with higher-valued properties. The highest median tax bill in the area is $2,063, which is notably consistent across the region.
Average Haverhill Tax Bill
$2,063
Average Marshall County Tax Bill
$1,909
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Haverhill, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50120 | $963 | $1,550 | $2,063 | $2,838 | $3,761 |
Source: Ownwell