Magnolia, Harrison County, Iowa Property Taxes
Property Taxes in Magnolia, Iowa
Median Magnolia, Iowa effective property tax rate: 1.58%, significantly higher than the national median of 1.02%, and higher than the Iowa state median of 1.55%.
Median Magnolia, Iowa home value: $84,060
Median annual Magnolia, Iowa tax bill: $1,165, lower than the national median property tax bill of $2,400.
How are property taxes in Harrison calculated?
Property taxes in Magnolia, Iowa 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 April 13, 2026
Magnolia, Harrison County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.58%
Estimate Property Tax Bill
$1,328
$1,232
How Does the Magnolia Property Tax Calculator Work?
Use this Magnolia property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Magnolia's median effective tax rate of 1.58% — based on actual property records in Harrison County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Magnolia's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Magnolia's median effective tax rate is higher than the Iowa median tax rate of 1.55%, and the median property tax bill is $1,165, which is $1,235 lower than the national median property tax bill of $2,400.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Magnolia.
About Magnolia Property Taxes
About Property Taxes in Magnolia, Harrison, Iowa
Magnolia’s median effective property tax rate of 1.58% is higher than the Iowa state median of 1.55% and higher than the national median of 1.02%. This rate reflects the Harrison County tax levy combined with local school district levies and special assessment districts that can vary by subdivision throughout the city.
Property tax rates are not uniform across Magnolia. Homeowners in the 51550 ZIP code carry a median effective rate of 1.58%, while the same ZIP also reflects a median tax bill of $1,165 and a median home price of $84,060. Understanding how local levies are applied can make a meaningful difference to your annual tax bill.
Magnolia homeowners who believe their assessed value is too high can file a formal appeal with the Harrison County Tax Assessor before April 30, 2026.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Magnolia, Harrison County, Iowa
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Magnolia's effective property tax rate to other cities in Iowa and the median property tax rates in Iowa and the U.S.
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
1.58%
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
1.42%
Median Effective Iowa Tax Rate
1.55%
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 | 1.31% | 1.42% | 1.58% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Magnolia, Harrison County, Iowa
When examining property taxes in Magnolia, Iowa, 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.
Assessment notices:
In Harrison County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of May.
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
$44,815
$151,403
$257,990
Median Magnolia Market Value
$84,060
Median Harrison County Market Value
$153,100
Median Iowa Market Value
$169,700
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 | $37,092 | $84,060 | $121,470 | $173,230 |
Source: Ownwell
Property Tax Bills Across Magnolia, Harrison County, Iowa
Property tax bills in Magnolia are based on the assessed value of a home, not its market price alone. Local taxing authorities apply their tax rates to that assessed value, which means the final bill depends on both the home’s valuation and the combined rates set by the county, city, schools, and other local districts.
With a median home price of $84,060, homeowners in Magnolia can see very different tax bills depending on where their property is located and how it is assessed. The typical tax bill in the area is $1,165, while bills can range from $525 at the 25th percentile to $1,864 at the 75th percentile and $2,655 at the 90th percentile.
These differences matter because property taxes are a recurring cost that can affect monthly budgets and long-term housing affordability. When a home is assessed higher, the tax bill usually rises, making it important for homeowners to understand how their bill is calculated.
Median Magnolia Tax Bill
$1,165
Median Harrison County Tax Bill
$2,126
Median Iowa Tax Bill
$2,542
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 | $112 | $525 | $1,165 | $1,864 | $2,655 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| Harrison Tax Assessor | |
| Website | beacon.schneidercorp.com |