Dougherty, Iowa Property Taxes
The median property tax rate in Dougherty, IA is 1.15%, 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 Dougherty at $205,100, the typical annual property tax bill is $2,538, slightly below the national median of $2,690. Property taxes in Dougherty 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 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 the city, understanding 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
1.15%
Estimate Property Tax Bill
$2,359
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, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Dougherty is 1.15%, which is 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 zip code 50433 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Dougherty provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dougherty Tax Rate
1.15%
Average Franklin County Tax Rate
1.64%
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 | 1.02% | 1.08% | 1.15% | 1.25% | 1.45% |
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 local 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 Dougherty is $2,538 in zip code 50433, while the lowest median tax bill is also $2,538 in the same zip code.
Average Dougherty Assessed Value
$205,100
Average Franklin County Assessed Value
$103,400
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 | $96,540 | $135,000 | $205,100 | $299,600 | $389,260 |
Source: Ownwell
Property Tax Bills Across Dougherty, Iowa
In Dougherty, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Dougherty is $205,100. To calculate the property tax bill, the assessed value is multiplied by the local tax rate. Homeowners in Dougherty can expect tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $1,591, while at the 75th percentile, it rises to $3,395. The 90th percentile tax bill reaches as high as $4,818. Several factors influence these amounts, including the home's market value, any applicable exemptions, and the specific tax rates set by local authorities. Compared to the national median property tax rate of 0.99%, the rates in Dougherty may seem higher or lower depending on individual circumstances. These tax bills significantly impact homeowners' finances, making it essential to understand how they are calculated and what factors can affect them.
Average Dougherty Tax Bill
$2,538
Average Franklin County Tax Bill
$1,653
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 | $1,279 | $1,591 | $2,538 | $3,395 | $4,818 |
Source: Ownwell