Knoxville, Marion County, Iowa Property Taxes

Name: Property Tax Bills Across Knoxville, Marion County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Knoxville, IA effective property tax rate: 1.67%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Knoxville, IA home value: $153,470
Median annual Knoxville, IA tax bill: $2,418, $18 higher than the national median property tax bill of $2,400.

How are property taxes in Marion calculated?

Property taxes in Knoxville, 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 Knoxville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Knoxville, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Knoxville, Marion County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.67%

Estimate Property Tax Bill

$2,563

$2,378

Ownwell’s Knoxville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Knoxville with just two data points. By entering your property's estimated assessed value, our calculator applies Knoxville’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Marion County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Knoxville, Marion County, Iowa

Local government entities in Knoxville, Iowa, determine property tax rates, which can vary significantly within the state. Each year, counties assess their budgetary needs for public services and divide this by the total assessed value of all taxable properties in their jurisdiction, resulting in the property tax rate. While setting tax rates involves votes and legal frameworks, this is essentially how the process unfolds annually.

In Knoxville, located in Marion County, the effective property tax rate is 1.67%, which is higher than the national median rate of 1.02%. This rate is also the highest and lowest median tax rate within the region, indicating a uniform rate across the county. Comparatively, the national median property tax bill stands at $2,400. Understanding these figures can help property owners in Knoxville better anticipate their property tax obligations and explore potential savings through appeals or exemptions.

Property Tax Rates Across Knoxville, Marion County, Iowa

Source: Ownwell

0.92%

1.29%

1.67%

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 Knoxville Tax Rate

1.67%

Median Effective Marion County Tax Rate

1.40%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Knoxville, Marion County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50138	1.09%	1.28%	1.67%	1.85%	1.95%

Source: Ownwell

Property Tax Assessment Values Across Knoxville, Marion County, Iowa

When examining property taxes in Knoxville, 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 Marion County Assessor's Office 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 Marion 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 Knoxville. For example, the median home price in Knoxville is $153,470, with tax bills ranging significantly across the county. Zip code 50138 has the highest median home price at $153,470.

Property Tax Assessment Values Across Knoxville, Marion County, Iowa

Source: Ownwell

$49,925

$161,023

$272,120

Median Knoxville Market Value

$153,470

Median Marion County Market Value

$185,955

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Knoxville, Marion County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50138	$35,665	$92,352	$153,470	$228,872	$332,149

Source: Ownwell

Property Tax Bills Across Knoxville, Marion County, Iowa

In Knoxville, located in Marion County, IA, property tax bills are calculated based on the assessed value of the home and the local tax rate. Homeowners in Knoxville face a median property tax bill of approximately $2,418, slightly above the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $1,408 and the 75th percentile reaching $3,530. For those in the 90th percentile, the bill can be as high as $4,800. These variations are influenced by factors such as the property's assessed value and applicable exemptions. Higher property tax bills can strain homeowners' budgets, especially when they exceed the national median. Ownwell offers a solution to this challenge by providing property tax appeal and exemption services. By analyzing the assessed value and ensuring it's fair, Ownwell helps homeowners potentially lower their tax bills, offering expert guidance and support throughout the appeal process. This service can lead to significant savings, easing the financial burden on homeowners.

Property Tax Bills Across Knoxville, Marion County, Iowa

Source: Ownwell

$592

$2,153

$3,714

Median Knoxville Tax Bill

$2,418

Median Marion County Tax Bill

$2,660

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Knoxville, Marion County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50138	$500	$1,408	$2,418	$3,530	$4,800

Source: Ownwell