Castalia, Iowa Property Taxes
The median property tax rate in Castalia, IA is 1.32%, which is considerably higher than the national median of 0.99% but lower than Iowa's state median of 1.54%. With the median home value in Castalia at $129,130, the typical annual property tax bill reaches $1,744, falling below the national median of $2,690. Property taxes in Castalia 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 Castalia'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 Castalia or another part of Winneshiek County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Castalia, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$1,705
Ownwell’s Castalia Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Castalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castalia to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for tax calculations and considers any applicable exemptions.
Property Tax Rates Across Castalia, Iowa
Property taxes in Castalia, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castalia is 1.32%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Castalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castalia 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 Castalia's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52133 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Castalia provides valuable insights into the varying tax landscape across Winneshiek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castalia Tax Rate
1.32%
Average Winneshiek County Tax Rate
1.33%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castalia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52133 | 1.13% | 1.22% | 1.32% | 1.46% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Castalia, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Castalia, Iowa. 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 Winneshiek 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 Castalia, 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. For example, the median home price in Castalia is $129,130, with tax bills ranging from $1,118 at the 25th percentile to $3,518 at the 90th percentile. The highest and lowest median tax bills are both $1,744 in the 52133 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Castalia Assessed Value
$129,130
Average Winneshiek County Assessed Value
$200,930
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castalia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52133 | $42,148 | $83,530 | $129,130 | $219,260 | $274,498 |
Source: Ownwell
Property Tax Bills Across Castalia, Iowa
In Castalia, located in Winneshiek County, IA, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. For example, if the median home price is $129,130, the assessed value would be a proportion of this amount. The tax rate, which in this region can vary, is then applied to the assessed value to determine the annual tax bill. Factors considered in determining the tax bill include the property's location, size, and any improvements made. In Castalia, homeowners can expect tax bills ranging from $1,118 at the 25th percentile to $3,518 at the 90th percentile. The median tax bill in the highest and lowest zip codes within the area is $1,744. These taxes fund essential public services such as schools, emergency services, and infrastructure, directly affecting the community's quality of life and property values.
Average Castalia Tax Bill
$1,744
Average Winneshiek County Tax Bill
$2,768
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Castalia, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52133 | $540 | $1,118 | $1,744 | $2,744 | $3,518 |
Source: Ownwell