Jolley, Iowa Property Taxes
The median property tax rate in Jolley, IA is 1.08%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Jolley at $79,060, the typical annual property tax bill amounts to $954, falling below the national median of $2,690. Property taxes in Jolley are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Jolley'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 Jolley or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jolley, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$854
Ownwell’s Jolley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jolley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jolley 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 Jolley, Iowa
Property taxes in Jolley, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jolley is 1.08%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Jolley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jolley 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 Jolley's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50551 zip code has the highest median property tax rate of 1.08%, while the same 50551 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Jolley provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jolley Tax Rate
1.08%
Average Calhoun County Tax Rate
1.32%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jolley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50551 | 0.73% | 0.89% | 1.08% | 1.42% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Jolley, Iowa
In Jolley, 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 Calhoun 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 Jolley, 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 Jolley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jolley, the median home price is $79,060, with the highest and lowest median tax bills both being $954 in the 50551 zip code.
Average Jolley Assessed Value
$79,060
Average Calhoun County Assessed Value
$99,020
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jolley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50551 | $2,810 | $10,220 | $79,060 | $173,955 | $236,840 |
Source: Ownwell
Property Tax Bills Across Jolley, Iowa
In Jolley, located in Calhoun County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Jolley experience property tax bills that can vary significantly. For instance, the tax bill for the 25th percentile is $168, while the 75th percentile sees a tax bill of $1,810. The tax bill at the 90th percentile can reach up to $2,450. The highest median tax bill in the area is $954, which is notably lower than the national median property tax rate of 0.99%. These variations are influenced by factors such as property size, location, and any applicable exemptions. For homeowners, understanding these factors is crucial as they directly impact their annual financial obligations and can affect their overall cost of homeownership.
Average Jolley Tax Bill
$954
Average Calhoun County Tax Bill
$1,396
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Jolley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50551 | $47 | $168 | $954 | $1,810 | $2,450 |
Source: Ownwell