Fredericksburg, Iowa Property Taxes
The median property tax rate in Fredericksburg, IA is 1.12%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $177,375, the typical annual property tax bill in Fredericksburg amounts to $1,812, falling below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Fredericksburg'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 Fredericksburg or another part of Bremer County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fredericksburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,987
Ownwell’s Fredericksburg Property Tax Bill Calculator is a powerful tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Fredericksburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredericksburg to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Fredericksburg, Iowa
Property taxes in Fredericksburg, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredericksburg is 1.12%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Fredericksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredericksburg 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 Fredericksburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50630 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Fredericksburg provides valuable insights into the varying tax landscape across Chickasaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredericksburg Tax Rate
1.12%
Average Bremer County Tax Rate
1.48%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredericksburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50630 | 0.97% | 1.02% | 1.12% | 1.25% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Fredericksburg, Iowa
In Fredericksburg, 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 Bremer 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 Fredericksburg, 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. For instance, the median home price in Fredericksburg is $177,375, with the 25th percentile tax bill at $1,162 and the 75th percentile at $2,760. 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 Fredericksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fredericksburg Assessed Value
$177,375
Average Bremer County Assessed Value
$189,165
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredericksburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50630 | $68,210 | $91,342 | $177,375 | $229,428 | $309,238 |
Source: Ownwell
Property Tax Bills Across Fredericksburg, Iowa
In Fredericksburg, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made to the home. Homeowners in Fredericksburg experience a range of property tax bills. For example, those in the 25th percentile pay around $1,162, while those in the 75th percentile face tax bills of approximately $2,760. At the higher end, the 90th percentile sees tax bills reaching up to $3,540. These figures highlight the variability in property tax obligations based on property values and other contributing factors. Compared to the national median property tax rate of 0.99%, homeowners in Fredericksburg may find their tax bills relatively moderate or high, impacting their overall housing costs and financial planning. Understanding these dynamics is crucial for current and prospective homeowners in managing their expenses effectively.
Average Fredericksburg Tax Bill
$1,812
Average Bremer County Tax Bill
$2,696
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredericksburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50630 | $672 | $1,162 | $1,812 | $2,760 | $3,540 |
Source: Ownwell