Galva, Sac County, Iowa Property Taxes
The median property tax rate in Galva, IA is 0.97%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With the median home value in Galva at $234,575, the typical annual property tax bill amounts to $2,384, which is under the national median of $2,690. Property taxes in Galva are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Galva'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 Galva 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
Galva, Sac County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$2,275
$2,111
Ownwell’s Galva Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Galva with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galva 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 Galva, Sac County, Iowa
Property taxes in Galva, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Galva is 1.21%, higher than both the Iowa state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Galva set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galva 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 Galva's effective property tax rate to other counties in Iowa and the national median. For comparison, the 51020 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Galva provides valuable insights into the varying tax landscape across Sac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galva Tax Rate
0.97%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galva, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51020 | 0.72% | 0.91% | 0.97% | 1.11% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Galva, Sac County, Iowa
In Galva, 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 Sac 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 Galva, 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 Galva helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Galva is $234,575. The median tax bill ranges significantly, with the 25th percentile at $1,568 and the 90th percentile at $3,829. Interestingly, the highest and lowest median tax bills are both found in the 51020 zip code, each at $2,384.
Average Galva Assessed Value
$234,575
Average Sac County Assessed Value
$117,660
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galva, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51020 | $150,044 | $161,152 | $234,575 | $318,535 | $352,636 |
Source: Ownwell
Property Tax Bills Across Galva, Sac County, Iowa
In Galva, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the home. Homeowners in Galva can expect their property tax bills to vary significantly. For instance, the median home price stands at $234,575, with tax bills ranging from $1,568 at the 25th percentile to $3,829 at the 90th percentile. The median property tax rate in Galva's county, Sac, is notably higher than the national median of 0.99%. This means that property owners in Galva might pay more in taxes compared to the national average, impacting their overall housing costs. Understanding these factors can help homeowners better plan for their financial obligations.
Average Galva Tax Bill
$2,384
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Galva, Sac County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51020 | $1,105 | $1,568 | $2,384 | $2,926 | $3,829 |
Source: Ownwell