Casey, Iowa Property Taxes
The median property tax rate in Casey, IA is 1.13%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value in Casey of $124,430, the typical annual property tax bill reaches $1,516, which is below the national median of $2,690. Property taxes in Casey are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. 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
1.13%
Estimate Property Tax Bill
$1,406
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Casey is 1.13%, 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 50048 zip code has the highest median property tax rate of 1.13%, while the 50048 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Casey provides valuable insights into the varying tax landscape across Adair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Casey Tax Rate
1.13%
Average Adair County Tax Rate
1.47%
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 | 0.93% | 1.00% | 1.13% | 1.27% | 1.50% |
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 Adair 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. Being aware of these valuation processes in Casey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50048, with a median of $1,516.
Average Casey Assessed Value
$124,430
Average Adair County Assessed Value
$113,535
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 | $60,360 | $89,768 | $124,430 | $202,932 | $285,734 |
Source: Ownwell
Property Tax Bills Across Casey, Iowa
In Casey, located in Adair County, IA, property tax bills are calculated based on the assessed value of your home, which serves as a percentage of its market value. The median home price in Casey is $124,430. Property taxes are then determined by multiplying the assessed value by the local tax rate. For homeowners, this means that various factors such as the home's location, size, and improvements can influence the assessed value and, consequently, the tax bill. In Casey, the property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $1,091, while at the 75th percentile, it reaches $2,162. At the 90th percentile, homeowners might see tax bills as high as $3,331. Comparing this to the national median property tax rate of 0.99%, Casey's property tax bills reflect both the assessed value of homes and the specific tax rates applied in the region. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners differently based on their property's assessed value.
Average Casey Tax Bill
$1,516
Average Adair County Tax Bill
$1,656
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 | $667 | $1,091 | $1,516 | $2,162 | $3,331 |
Source: Ownwell