Popejoy, Iowa Property Taxes
The median property tax rate in Popejoy, IA is 1.63%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Popejoy at $22,450, the typical annual property tax bill reaches $364, which is significantly lower than the national median of $2,690. Property taxes in Popejoy are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Popejoy'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 Popejoy or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Popejoy, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$366
Ownwell’s Popejoy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Popejoy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Popejoy 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 Popejoy, Iowa
Property taxes in Popejoy, Iowa, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Popejoy is 1.63%, which is significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Popejoy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Popejoy 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 Popejoy's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50227 has the highest median property tax rate of 1.63%, while the lowest median tax rate in the same zip code is also 1.63%. Understanding how these cities compare with Popejoy 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 Popejoy Tax Rate
1.63%
Average Franklin County Tax Rate
1.64%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Popejoy, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50227 | 1.25% | 1.40% | 1.63% | 1.77% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Popejoy, Iowa
In Popejoy, 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 Franklin 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 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 Popejoy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Popejoy, the zip code 50227 has the highest and lowest median tax bill, both at $364.
Average Popejoy Assessed Value
$22,450
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 Popejoy, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50227 | $3,630 | $7,450 | $22,450 | $43,700 | $70,550 |
Source: Ownwell
Property Tax Bills Across Popejoy, Iowa
In Popejoy, located in Franklin County, IA, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Popejoy is $22,450, and the property tax rate is applied to this value to determine the annual tax bill. Homeowners in Popejoy experience a range of tax bills, with the 25th percentile paying around $94 and the 75th percentile facing $697. The 90th percentile of tax bills can reach up to $1,002 annually. Several factors influence the property tax bill, including the home's assessed value and any applicable exemptions or deductions. This system ensures that property taxes are proportional to the value of the property, which can significantly impact homeowners' finances. Compared to the national median property tax rate of 0.99%, Popejoy’s rates are reflective of the local economic conditions and property values. Homeowners must budget for these taxes as part of their annual expenses, influencing their overall cost of living.
Average Popejoy Tax Bill
$364
Average Franklin County Tax Bill
$1,653
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Popejoy, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50227 | $53 | $94 | $364 | $697 | $1,002 |
Source: Ownwell