Magnolia, Harrison County, Iowa Property Taxes
Median Magnolia, IA effective property tax rate: 1.33%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Magnolia, IA home value: $84,060
Median annual Magnolia, IA tax bill: $1,042, $1,358 lower than the national median property tax bill of $2,400.
How are property taxes in Harrison County calculated?
Property taxes in Magnolia, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Magnolia’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Magnolia, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Magnolia, Harrison County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.33%
Estimate Property Tax Bill
$1,118
$1,037
Property Tax Rates Across Magnolia, Harrison County, Iowa
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Magnolia Tax Rate
1.33%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Harrison County Tax Rate
1.29%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Magnolia, Harrison County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51550 | 1.14% | 1.25% | 1.33% | 1.46% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Magnolia, Harrison County, Iowa
When examining property taxes in Magnolia, IA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Harrison County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Harrison County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Magnolia. For example, the median home price in Magnolia is $84,060, with tax bills ranging significantly across the county. 51550 has the highest median home price at $84,060.
Property Tax Assessment Values Across Magnolia, Harrison County, Iowa
Source: Ownwell
$42,515
$149,448
$256,380
Median Magnolia Market Value
$84,060
Median Harrison County Market Value
$150,125
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Magnolia, Harrison County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51550 | $7,780 | $38,548 | $84,060 | $121,470 | $173,230 |
Source: Ownwell
Property Tax Bills Across Magnolia, Harrison County, Iowa
In Magnolia, located in Harrison County, IA, property tax bills are determined by assessing the property's market value and applying the local tax rate. Homeowners in this area face a median tax bill of $1,042, which is significantly lower than the national median of $2,400. The tax rate is applied to the assessed property value, which considers factors such as property characteristics and market conditions. Homeowners in Magnolia can expect tax bills ranging from the 25th percentile at $509 to the 90th percentile at $2,253, reflecting the diversity in property values and tax obligations within the area.
For homeowners looking to reduce their property tax bills, Ownwell offers valuable assistance. By providing expert property tax appeal and exemption services, Ownwell helps ensure that homeowners are not overpaying. With a thorough understanding of local tax regulations and market trends, Ownwell's team can identify potential savings opportunities, making it easier for homeowners to manage their tax expenses effectively. This service is crucial in areas like Magnolia, where understanding the nuances of property tax assessments can lead to significant savings.
Median Magnolia Tax Bill
$1,042
Median Harrison County Tax Bill
$1,959
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Magnolia, Harrison County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51550 | $113 | $509 | $1,042 | $1,607 | $2,253 |
Source: Ownwell