Casey, Iowa Property Taxes
The median property tax rate in Casey, IA is 1.43%, which is considerably higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With a median home value of $88,400 in Casey, the typical annual property tax bill reaches $1,236, lower than the national median of $2,690. Property taxes in Casey are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Casey'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 Casey 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
Casey, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,264
Ownwell’s Casey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Casey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Casey 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 Casey, Iowa
Property taxes in Casey, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Casey is 1.43%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Casey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Casey 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 Casey's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50048 has the highest median property tax rate of 1.43%, while the lowest median tax rate is also 1.43%. Understanding how these cities compare with Casey provides valuable insights into the varying tax landscape across Guthrie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Casey Tax Rate
1.43%
Average Guthrie County Tax Rate
1.18%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Casey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50048 | 0.95% | 1.05% | 1.43% | 1.77% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Casey, Iowa
In Casey, 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 Guthrie 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 Casey, 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. Casey homeowners should be aware of these valuation processes to identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50048 has both the highest and lowest median tax bills at $1,236, reflecting the diverse property values within the area.
Average Casey Assessed Value
$88,400
Average Guthrie County Assessed Value
$152,050
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Casey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50048 | $17,660 | $47,900 | $88,400 | $162,125 | $267,630 |
Source: Ownwell
Property Tax Bills Across Casey, Iowa
Property tax bills in Casey, located in Guthrie County, IA, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Casey, homeowners can expect to pay varying amounts depending on their property's value. For instance, the 25th percentile tax bill is $724, while the 75th percentile tax bill reaches $2,097. The 90th percentile tax bill can be as high as $2,988. The median home price in Casey is $88,400, which is relatively affordable compared to national standards. The highest median tax bill in the area is $1,236, and it often falls within the same zip code, indicating a consistent rate across the region. These property taxes fund local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Casey Tax Bill
$1,236
Average Guthrie County Tax Bill
$1,994
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Casey, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50048 | $300 | $724 | $1,236 | $2,097 | $2,988 |
Source: Ownwell