Granger, Polk County, Iowa Property Taxes
The median property tax rate in Granger, IA is 1.49%, which is considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Granger at $409,500, the typical annual property tax bill reaches $6,500, significantly exceeding the national median of $2,690. Property taxes in Granger 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 Granger'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 Granger or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Granger, Polk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$6,102
$5,662
Ownwell’s Granger Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granger with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granger 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 Granger, Polk County, Iowa
Property taxes in Granger, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granger is 1.49%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Granger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granger 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 Granger's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50109 zip code has the highest median property tax rate of 1.49%, while the 50109 zip code has the lowest median tax rate of 1.49%. Understanding how these cities compare with Granger provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granger Tax Rate
1.49%
Average Polk County Tax Rate
1.69%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granger, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50109 | 1.26% | 1.29% | 1.49% | 1.87% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Granger, Polk County, Iowa
In Granger, 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 Polk 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 Granger, 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 Granger 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 50109, with a median tax bill of $6,500.
Property Tax Assessment Values Across Granger, Polk County, Iowa
Source: Ownwell
$2,050
$223,775
$445,500
Average Granger Assessed Value
$409,500
Average Polk County Assessed Value
$231,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granger, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50109 | $280,640 | $336,000 | $409,500 | $540,000 | $696,960 |
Source: Ownwell
Property Tax Bills Across Granger, Polk County, Iowa
In Granger, IA, located in Polk County, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. These assessors evaluate various factors, including the property's size, age, location, and market conditions. Once the assessed value is established, the local tax rate is applied to compute the tax bill. Homeowners in Granger can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is around $5,032, while at the 75th percentile, it rises to approximately $8,006. The 90th percentile tax bill can go up to $9,633. The median home price in Granger is $409,500, which means that many homeowners might find their tax bills higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Therefore, understanding how property taxes are calculated can help homeowners manage their expenses better and anticipate their financial obligations.
Average Granger Tax Bill
$6,500
Average Polk County Tax Bill
$3,904
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Granger, Polk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50109 | $3,498 | $5,032 | $6,500 | $8,006 | $9,633 |
Source: Ownwell