Fertile, Iowa Property Taxes
The median property tax rate in Fertile, IA is 0.91%, which is lower than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Fertile, the typical annual property tax bill amounts to $1,342, significantly below the national median of $2,690. Property taxes in Fertile are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Fertile'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 Fertile 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
Fertile, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,340
Ownwell’s Fertile Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fertile with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fertile 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 Hancock County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fertile, Iowa
Property taxes in Fertile, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fertile is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Fertile set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fertile 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 Fertile's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50434 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Fertile provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fertile Tax Rate
0.91%
Average Hancock County Tax Rate
1.39%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fertile, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50434 | 0.91% | 0.91% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Fertile, Iowa
In Fertile, 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 Hancock 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 Fertile, 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 Fertile helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fertile are both $1,342, found in the 50434 zip code. This uniformity highlights the importance of understanding and managing property valuations to ensure fair taxation.
Average Fertile Assessed Value
$147,240
Average Hancock County Assessed Value
$129,985
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fertile, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50434 | $147,240 | $147,240 | $147,240 | $147,240 | $147,240 |
Source: Ownwell
Property Tax Bills Across Fertile, Iowa
In Fertile, Hancock County, IA, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The median home price in Fertile stands at $147,240. Property taxes are calculated by applying the local tax rate to the assessed value of the property. The national median property tax rate is 0.99%, but local rates can vary. In Fertile, the tax bill for homeowners typically falls around $1,342, regardless of the percentile, indicating a consistent tax rate across different property values. This uniformity simplifies the prediction of property tax expenses for homeowners. Factors such as property improvements, neighborhood developments, and changes in local government budgets can influence the assessed value and, consequently, the tax bill. For homeowners, understanding these factors is crucial as it impacts their annual financial planning and long-term investment in real estate. Keeping an eye on local tax policies and property assessments can help homeowners anticipate changes in their tax obligations.
Average Fertile Tax Bill
$1,342
Average Hancock County Tax Bill
$1,680
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Fertile, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50434 | $1,342 | $1,342 | $1,342 | $1,342 | $1,342 |
Source: Ownwell