Parkersburg, Iowa Property Taxes
The median property tax rate in Parkersburg, IA is 1.35%, 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 $193,515, the typical annual property tax bill in Parkersburg reaches $2,464, slightly below the national median of $2,690. Property taxes in Parkersburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Parkersburg'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 Parkersburg or another part of Butler County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parkersburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$2,612
Ownwell’s Parkersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parkersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parkersburg 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 Parkersburg, Iowa
Property taxes in Parkersburg, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkersburg is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Parkersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkersburg 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 Parkersburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50665 has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Parkersburg provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parkersburg Tax Rate
1.35%
Average Butler County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkersburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50665 | 1.07% | 1.22% | 1.35% | 1.46% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Parkersburg, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Parkersburg, 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 Butler County Assessor's Office 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 Parkersburg, 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 example, the median home price in Parkersburg is $193,515, with tax bills ranging from $1,542 at the 25th percentile to $5,323 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Parkersburg Assessed Value
$193,515
Average Butler County Assessed Value
$143,820
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parkersburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50665 | $75,575 | $120,982 | $193,515 | $279,375 | $392,590 |
Source: Ownwell
Property Tax Bills Across Parkersburg, Iowa
Property tax bills in Parkersburg, Butler County, IA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. Homeowners in Parkersburg can expect their property tax bills to vary significantly depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $1,542, while at the 75th percentile, it rises to $3,848. At the 90th percentile, it can reach up to $5,323. Comparatively, the national median property tax rate is 0.99%, which can help homeowners gauge how their local taxes stack up against the national average. The median home price in Parkersburg is $193,515, and the highest and lowest median tax bills in the area both stand at $2,464, specifically in the 50665 zip code. These factors collectively influence how much homeowners will owe annually, impacting their overall financial planning and budgeting.
Average Parkersburg Tax Bill
$2,464
Average Butler County Tax Bill
$1,964
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkersburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50665 | $949 | $1,542 | $2,464 | $3,848 | $5,323 |
Source: Ownwell