Redfield, Iowa Property Taxes
The median property tax rate in Redfield, IA, is 1.05%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Redfield at $203,100, the typical annual property tax bill reaches $2,020, which is below the national median of $2,690. Property taxes in Redfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Redfield'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 Redfield 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
Redfield, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,133
Ownwell’s Redfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redfield 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 Redfield, Iowa
Property taxes in Redfield, Iowa, are crucial for funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Redfield is 1.05%, which is higher than the U.S. national median of 0.99%. Local government entities within Redfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Redfield 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 Redfield's effective property tax rate to other areas in Iowa and the national median. For comparison, the 50233 zip code has both the highest and lowest median property tax rate of 1.05%. Understanding how these cities compare with Redfield 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 Redfield Tax Rate
1.05%
Average Guthrie County Tax Rate
1.18%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50233 | 0.97% | 1.00% | 1.05% | 1.14% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Redfield, Iowa
In Redfield, 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 Redfield, 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 Redfield is $203,100, with tax bills ranging from $1,726 at the 25th percentile to $3,465 at the 90th percentile. The zip code with the highest and lowest median tax bill is 50233, both at $2,020. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Redfield Assessed Value
$203,100
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 Redfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50233 | $97,720 | $158,600 | $203,100 | $240,850 | $352,760 |
Source: Ownwell
Property Tax Bills Across Redfield, Iowa
In Redfield, located in Guthrie County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate various factors such as the property's market value, location, and any improvements made to the property. Homeowners in Redfield can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,726, while the 75th percentile tax bill can reach up to $2,607. For those at the higher end, the 90th percentile tax bill is approximately $3,465. The median home price in Redfield is $203,100, and the property tax rate in this area is relatively competitive when compared to the national median property tax rate of 0.99%. This tax burden can affect homeowners' financial planning and overall cost of living. Understanding these factors can help residents better anticipate their annual property tax obligations and manage their budgets more effectively.
Average Redfield Tax Bill
$2,020
Average Guthrie County Tax Bill
$1,994
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Redfield, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50233 | $1,193 | $1,726 | $2,020 | $2,607 | $3,465 |
Source: Ownwell