Charter Oak, Iowa Property Taxes
The median property tax rate in Charter Oak, IA is 1.40%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Charter Oak at $61,890, the typical annual property tax bill amounts to $766, significantly below the national median of $2,690. Property taxes in Charter Oak 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 Charter Oak'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 Charter Oak or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charter Oak, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$866
Ownwell’s CHARTER OAK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CHARTER OAK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CHARTER OAK 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 Charter Oak, Iowa
Property taxes in Charter Oak, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charter Oak is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Charter Oak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charter Oak 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 Charter Oak's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51439 has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Charter Oak provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charter Oak Tax Rate
1.40%
Average Crawford County Tax Rate
1.36%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charter Oak, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51439 | 1.00% | 1.15% | 1.40% | 1.54% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Charter Oak, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Charter Oak, 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 Crawford 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 Charter Oak, 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. The median home price in Charter Oak is $61,890, with property tax bills varying significantly. For instance, the 25th percentile tax bill is $47, while the 75th percentile tax bill is $1,717, and the 90th percentile tax bill is $2,824. The highest and lowest median tax bills are both $766, found in zip code 51439. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Charter Oak Assessed Value
$61,890
Average Crawford County Assessed Value
$109,475
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charter Oak, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51439 | $1,610 | $2,560 | $61,890 | $139,680 | $245,660 |
Source: Ownwell
Property Tax Bills Across Charter Oak, Iowa
In Charter Oak, located in Crawford County, IA, property tax bills are determined by assessing the market value of a property and then applying the local tax rate. The median home price here is $61,890, and the property tax rate is a crucial factor in calculating the final bill. Homeowners in Charter Oak can expect to pay a range of property taxes, with the 25th percentile tax bill being $47 and the 75th percentile reaching up to $1,717. At the 90th percentile, the tax bill can be as high as $2,824. The highest median tax bill in the area is $766, which is also the lowest median tax bill, indicating a consistent tax rate across the zip code 51439. Property taxes impact homeowners by influencing their overall housing costs and potentially affecting their ability to invest in other areas. Compared to the national median property tax rate of 0.99%, Charter Oak's property taxes can vary significantly, making it essential for homeowners to understand these factors when budgeting for their homes.
Average Charter Oak Tax Bill
$766
Average Crawford County Tax Bill
$1,544
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Charter Oak, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51439 | $24 | $47 | $766 | $1,717 | $2,824 |
Source: Ownwell