Guernsey, Iowa Property Taxes
The median property tax rate in Guernsey, IA is 1.17%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $129,520 in Guernsey, the typical annual property tax bill amounts to $1,431, which is below the national median of $2,690. Property taxes in Guernsey are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Guernsey'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 Guernsey or elsewhere in Poweshiek County, grasping the local property tax nuances will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Guernsey, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,515
Ownwell’s Guernsey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guernsey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guernsey 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 Guernsey, Iowa
Property taxes in Guernsey, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guernsey is 1.17%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Guernsey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guernsey 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 Guernsey's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52221 zip code has the highest median property tax rate of 1.17%, while the 52221 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Guernsey provides valuable insights into the varying tax landscape across Poweshiek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guernsey Tax Rate
1.17%
Average Poweshiek County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guernsey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52221 | 0.96% | 1.07% | 1.17% | 1.25% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Guernsey, Iowa
In Guernsey, 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 Poweshiek 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 Guernsey, 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 is $129,520, with tax bills ranging from $570 at the 25th percentile to $4,023 at the 90th percentile. The highest and lowest median tax bills are both $1,431, found in the zip code 52221. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Guernsey Assessed Value
$129,520
Average Poweshiek County Assessed Value
$172,525
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guernsey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52221 | $33,220 | $56,622 | $129,520 | $209,695 | $334,945 |
Source: Ownwell
Property Tax Bills Across Guernsey, Iowa
Property tax bills in Guernsey, located in Poweshiek County, IA, are calculated based on the assessed value of a home and the local tax rate. The median home price in Guernsey is $129,520. Property taxes are determined by multiplying the assessed value by the tax rate set by local authorities. Factors such as property size, location, and improvements can affect the assessed value. Homeowners in Guernsey experience a range of tax bills, with the 25th percentile at $570 and the 75th percentile at $2,476, showcasing the variability depending on property characteristics and local levies. Compared to the national median property tax rate of 0.99%, Guernsey's property tax bills can be relatively moderate or high, influencing household budgets significantly. The highest median tax bill recorded in the area is $1,431, found in zip code 52221. This variability in tax bills impacts homeowners differently, affecting affordability and financial planning. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Guernsey Tax Bill
$1,431
Average Poweshiek County Tax Bill
$2,264
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Guernsey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52221 | $329 | $570 | $1,431 | $2,476 | $4,023 |
Source: Ownwell