Dougherty, Iowa Property Taxes
The median property tax rate in Dougherty, IA is 1.03%, slightly above the national median of 0.99% but below the Iowa state median of 1.54%. With the median home value in Dougherty at $74,500, the typical annual property tax bill amounts to $613, which is significantly lower than the national median of $2,690. Property taxes in Dougherty are calculated based on the assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Dougherty'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 Dougherty or another part of Cerro Gordo County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dougherty, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$767
-$8,042
Ownwell’s Dougherty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dougherty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dougherty 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 Dougherty, Iowa
Property taxes in Dougherty, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dougherty is 1.03%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Dougherty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dougherty 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 Dougherty's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50433 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Dougherty provides valuable insights into the varying tax landscape across Cerro Gordo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dougherty Tax Rate
1.03%
Average Cerro Gordo County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dougherty, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50433 | 0.20% | 0.48% | 1.03% | 1.32% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Dougherty, Iowa
In Dougherty, 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 Cerro Gordo County Appraisal District 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 Dougherty, 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 Dougherty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $613.00 in the 50433 zip code, while the lowest median tax bill is also $613.00 in the same zip code.
Average Dougherty Assessed Value
$74,500
Average Cerro Gordo County Assessed Value
$157,690
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dougherty, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50433 | $19,890 | $43,330 | $74,500 | $192,055 | $319,564 |
Source: Ownwell
Property Tax Bills Across Dougherty, Iowa
In Dougherty, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in Dougherty can expect varying tax bills depending on their property's assessed value. For example, the median home price in Dougherty is $74,500. Property tax bills can range significantly, with the 25th percentile at $336, the 75th percentile at $1,092, and the 90th percentile reaching up to $1,674. Compared to the national median property tax rate of 0.99%, the property taxes in Dougherty can be quite variable. Factors influencing the tax bill include changes in the local tax rate and any applicable exemptions or deductions. For homeowners, these tax bills can impact their overall financial planning, affecting everything from monthly mortgage payments to long-term investment strategies. Understanding how these taxes are calculated is crucial for managing homeownership costs effectively.
Average Dougherty Tax Bill
$613
Average Cerro Gordo County Tax Bill
$2,032
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Dougherty, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50433 | $171 | $336 | $613 | $1,092 | $1,674 |
Source: Ownwell