Granville, Sioux County, Iowa Property Taxes
The median property tax rate in Granville, IA is 1.28%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Granville at $145,200, the typical annual property tax bill reaches $1,804, falling below the national median of $2,690. Property taxes in Granville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Granville'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 Granville 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
Granville, Sioux County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,859
$1,725
Ownwell’s Granville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granville 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 Granville, Sioux County, Iowa
Property taxes in Granville, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Granville is 1.28%, which is higher than the U.S. national median of 0.99%. Local government entities within Granville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granville 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 Granville's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 51022 has both the highest and lowest median property tax rate of 1.28%. Understanding how these areas compare with Granville provides valuable insights into the varying tax landscape across Sioux County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granville Tax Rate
1.28%
Average Sioux County Tax Rate
1.40%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granville, Sioux County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51022 | 0.87% | 0.95% | 1.28% | 1.40% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Granville, Sioux County, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Granville, Iowa. 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 Sioux 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 Granville, 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 Granville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 51022 has the highest median tax bill of $1,804, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Granville, Sioux County, Iowa
Source: Ownwell
$46,135
$180,848
$315,560
Average Granville Assessed Value
$145,200
Average Sioux County Assessed Value
$218,070
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granville, Sioux County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51022 | $60,432 | $91,752 | $145,200 | $202,610 | $287,629 |
Source: Ownwell
Property Tax Bills Across Granville, Sioux County, Iowa
In Granville, property tax bills are determined by assessing the market value of a home and applying the local property tax rate to this value. The median home price in Granville is $145,200, and the property tax rate in Sioux County influences the final tax bill. Factors such as the property's assessed value, any applicable exemptions, and the local tax rate play crucial roles in determining the tax amount. Homeowners in Granville can expect their tax bills to vary. For instance, tax bills at the 25th percentile are around $1,228, while those at the 75th percentile reach up to $2,256. The highest tax bills, at the 90th percentile, can go as high as $2,993. These variations significantly affect homeowners, impacting their annual financial planning and overall cost of homeownership. Comparing this to the national median property tax rate of 0.99%, Granville's tax bills reflect the specific economic and regulatory environment of Sioux County.
Average Granville Tax Bill
$1,804
Average Sioux County Tax Bill
$2,736
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Granville, Sioux County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51022 | $800 | $1,228 | $1,804 | $2,256 | $2,993 |
Source: Ownwell