Van Cleve, Iowa Property Taxes
The median property tax rate in Van Cleve, IA is 1.92%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Van Cleve, the typical annual property tax bill reaches $204, which is significantly lower than the national median of $2,690. Property taxes in Van Cleve 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 Van Cleve'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 Van Cleve 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
Van Cleve, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$204
Ownwell’s Van Cleve Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick way to estimate their annual property taxes in Van Cleve with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Van Cleve to provide an estimate of your property tax bill. This valuable tool allows you to understand your potential tax liabilities better. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, including any applicable exemptions.
Property Tax Rates Across Van Cleve, Iowa
Property taxes in Van Cleve, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Van Cleve is 1.92%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Van Cleve set these rates annually, and they can vary significantly across different neighborhoods. Each year, Van Cleve 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 Van Cleve's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50162 has both the highest and lowest median property tax rate of 1.92%. Understanding how these cities compare with Van Cleve 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 Van Cleve Tax Rate
1.92%
Average Marshall County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Van Cleve, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50162 | 1.92% | 1.92% | 1.92% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Van Cleve, Iowa
In Van Cleve, 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 Van Cleve, 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. For instance, the median home price in Van Cleve is $10,640, with tax bills ranging from $204 at the 25th percentile to $204 at the 90th percentile. The highest and lowest median tax bills are both $204, found in the 50162 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Van Cleve Assessed Value
$10,640
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 Van Cleve, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50162 | $10,640 | $10,640 | $10,640 | $10,640 | $10,640 |
Source: Ownwell
Property Tax Bills Across Van Cleve, Iowa
In Van Cleve, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Van Cleve, located in Marshall County, the median home price is $10,640. Property tax bills in this area are notably consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $204. This uniformity reflects the stability in property values and tax rates within the region. Compared to the national median property tax rate of 0.99%, Van Cleve's property tax rate results in an annual tax bill that is relatively modest. This can be particularly beneficial for homeowners, as it means lower annual expenses related to property ownership. Understanding how these taxes are calculated and the factors involved can help homeowners better manage their finances and plan for future expenses.
Average Van Cleve Tax Bill
$204
Average Marshall County Tax Bill
$1,909
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Van Cleve, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50162 | $204 | $204 | $204 | $204 | $204 |
Source: Ownwell