Templeton, Iowa Property Taxes
The median property tax rate in Templeton, IA is 1.04%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Templeton at $158,060, the typical annual property tax bill is $1,621, which is below the national median of $2,690. Property taxes in Templeton 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 Templeton'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 Templeton or another part of Carroll County, grasping the local property tax nuances can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Templeton, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,644
Ownwell’s TEMPLETON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TEMPLETON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TEMPLETON 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 Templeton, Iowa
Property taxes in Templeton, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Templeton is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Templeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Templeton 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 Templeton's effective property tax rate to other areas in Iowa and the national median. For comparison, the zip code 51463 has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Templeton provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Templeton Tax Rate
1.04%
Average Carroll County Tax Rate
1.15%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Templeton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51463 | 0.83% | 0.93% | 1.04% | 1.19% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Templeton, Iowa
In Templeton, 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 Carroll 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 Templeton, 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. 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 Templeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $1,621 in the 51463 zip code, with tax bills ranging from $1,046 at the 25th percentile to $3,199 at the 90th percentile.
Average Templeton Assessed Value
$158,060
Average Carroll County Assessed Value
$153,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Templeton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51463 | $67,204 | $99,180 | $158,060 | $229,070 | $297,160 |
Source: Ownwell
Property Tax Bills Across Templeton, Iowa
In Templeton, Carroll County, IA, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine your annual tax bill. For instance, the median home price in Templeton is $158,060. Property owners can expect their tax bills to vary significantly, with the 25th percentile paying around $1,046, while those in the 75th percentile face bills of approximately $2,374. At the 90th percentile, the tax bill can reach up to $3,199. Factors such as property improvements, market conditions, and local government budgets can influence these assessments. Homeowners in Templeton see a median tax bill of $1,621, which is relatively moderate compared to the national median property tax rate of 0.99%. These taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the quality of life and property values in the community.
Average Templeton Tax Bill
$1,621
Average Carroll County Tax Bill
$1,746
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Templeton, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51463 | $716 | $1,046 | $1,621 | $2,374 | $3,199 |
Source: Ownwell