Albert City, Iowa Property Taxes
The median property tax rate in Albert City, IA is 1.02%, slightly above the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $148,390 in Albert City, the typical annual property tax bill amounts to $1,356, which is below the national median of $2,690. Property taxes in Albert City are based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Familiarizing yourself with Albert City's property tax system, exploring available exemptions, and seeking opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Albert City or elsewhere in the area, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Albert City, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,514
Ownwell’s Albert City Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Albert City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Albert City to project your property tax bill. This valuable tool provides insight into potential tax liabilities, helping you make informed decisions. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, determined by the county for tax purposes, takes into account any applicable exemptions, ensuring an accurate estimate of your tax obligations.
Property Tax Rates Across Albert City, Iowa
Property taxes in Albert City, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Albert City is 1.02%, which is slightly higher than the U.S. national median of 0.99%. Local government entities within Albert City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albert City 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 Albert City's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50510 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Albert City provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albert City Tax Rate
1.02%
Average Pocahontas County Tax Rate
1.38%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albert City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50510 | 0.91% | 0.95% | 1.02% | 1.13% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Albert City, Iowa
In Albert City, 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 Pocahontas 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. Assessment notices in Albert City 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 Albert City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in Albert City is $1,356 in the 50510 zip code, which also has the lowest median tax bill at the same amount.
Average Albert City Assessed Value
$148,390
Average Pocahontas County Assessed Value
$72,338
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albert City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50510 | $76,374 | $102,963 | $148,390 | $168,045 | $219,244 |
Source: Ownwell
Property Tax Bills Across Albert City, Iowa
In Albert City, located in Pocahontas County, IA, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Albert City is $148,390. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. Homeowners in Albert City can expect their property tax bills to vary. For instance, tax bills in the 25th percentile are around $1,088, while those in the 75th percentile reach up to $2,056. The highest median tax bill in the area is $1,356, which is notably higher than the national median property tax rate of 0.99%. These property tax bills significantly impact homeowners by affecting their annual expenses and potentially influencing their decisions regarding property investments and homeownership in Albert City.
Average Albert City Tax Bill
$1,356
Average Pocahontas County Tax Bill
$919
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Albert City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50510 | $785 | $1,088 | $1,356 | $2,056 | $2,475 |
Source: Ownwell