Farley, Iowa Property Taxes
The median property tax rate in Farley, IA is 1.13%, 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 Farley at $229,700, the typical annual property tax bill reaches $2,460, which is below the national median of $2,690. Property taxes in Farley are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Farley'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 Farley or another part of Dubuque County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Farley, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,596
Ownwell’s Farley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farley 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 Farley, Iowa
Property taxes in Farley, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Farley is 1.13%, which is higher than the U.S. national median of 0.99%. Local government entities within Farley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farley 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 Farley's effective property tax rate to other regions and the national median. For comparison, the zip code 52046 has both the highest and lowest median property tax rate of 1.13%, illustrating a uniform rate within the area. Understanding how these rates compare with Farley provides valuable insights into the varying tax landscape across Dubuque County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farley Tax Rate
1.13%
Average Dubuque County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52046 | 0.91% | 1.06% | 1.13% | 1.21% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Farley, Iowa
In Farley, 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 Dubuque 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 Farley, 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. For instance, the median home price in Farley is $229,700, with tax bills ranging from $1,949 at the 25th percentile to $4,736 at the 90th percentile. The highest and lowest median tax bills are both $2,460, found in zip code 52046. Being aware of these valuation processes in Farley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Farley Assessed Value
$229,700
Average Dubuque County Assessed Value
$216,801
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Farley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52046 | $136,700 | $177,000 | $229,700 | $321,650 | $422,460 |
Source: Ownwell
Property Tax Bills Across Farley, Iowa
In Farley, located in Dubuque County, IA, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The median home price in Farley is $229,700, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as the property's location, size, and any improvements made can affect the assessed value. For homeowners in Farley, the tax bill can vary significantly. The 25th percentile tax bill stands at $1,949, while the 75th percentile reaches $3,475, and the 90th percentile can be as high as $4,736. These property taxes fund essential services such as public schools, infrastructure, and emergency services, impacting the community's overall quality of life. Compared to the national median property tax rate of 0.99%, homeowners in Farley may find their tax bills varying based on their property's assessed value and the county's specific tax rate policies.
Average Farley Tax Bill
$2,460
Average Dubuque County Tax Bill
$2,714
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Farley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52046 | $1,494 | $1,949 | $2,460 | $3,475 | $4,736 |
Source: Ownwell