College Springs, Iowa Property Taxes
The median property tax rate in College Springs, IA is 1.50%, slightly below the Iowa state median of 1.54% but still higher than the national median of 0.99%. With a median home value of $56,130, the typical annual property tax bill in College Springs reaches $772, which is significantly lower than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Familiarizing yourself with College Springs' property tax system, exploring potential exemptions, and finding ways to reduce your tax burden can lead to substantial annual savings. Whether you reside in the heart of College Springs or its surrounding areas, understanding the local property tax landscape is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
College Springs, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$842
Ownwell’s College Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in College Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in College Springs 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 College Springs, Iowa
Property taxes in College Springs, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in College Springs is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within College Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, College Springs 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 College Springs' effective property tax rate to other areas in Iowa and the national median. For comparison, the 51637 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with College Springs provides valuable insights into the varying tax landscape across Page County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average College Springs Tax Rate
1.50%
Average Page County Tax Rate
1.56%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across College Springs, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51637 | 1.19% | 1.35% | 1.50% | 1.64% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across College Springs, Iowa
In College Springs, 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 Page 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 College Springs, 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 College Springs stands at $56,130, with tax bills ranging from $442 at the 25th percentile to $1,799 at the 90th percentile. 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 College Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average College Springs Assessed Value
$56,130
Average Page County Assessed Value
$100,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across College Springs, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51637 | $7,015 | $28,330 | $56,130 | $88,120 | $118,224 |
Source: Ownwell
Property Tax Bills Across College Springs, Iowa
In College Springs, IA, located in Page County, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The median home price in this area is $56,130, which provides a basis for calculating property taxes. Homeowners can expect their tax bills to fall within a range, with the 25th percentile at $442 and the 75th percentile at $1,232. For those at the higher end, the 90th percentile tax bill reaches $1,799. Several factors influence these tax bills, including the property's assessed value, any exemptions that may apply, and the specific tax rate set by local authorities. These taxes are essential for funding community services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, College Springs offers a relatively affordable tax environment. However, homeowners should still be mindful of how these taxes impact their overall housing costs and budget accordingly.
Average College Springs Tax Bill
$772
Average Page County Tax Bill
$1,497
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across College Springs, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51637 | $103 | $442 | $772 | $1,232 | $1,799 |
Source: Ownwell