Carroll, Iowa Property Taxes
The median property tax rate in Carroll, IA is 1.22%, which is higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Carroll, the typical annual property tax bill reaches $2,052, which is below the national median of $2,690. Property taxes in Carroll are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carroll'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 Carroll 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
Carroll, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,127
Ownwell’s Carroll Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carroll with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carroll 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 Carroll, Iowa
Property taxes in Carroll, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carroll is 1.22%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Carroll set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carroll 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 Carroll's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51401 has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Carroll provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carroll Tax Rate
1.22%
Average Carroll County Tax Rate
1.15%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carroll, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51401 | 0.93% | 1.06% | 1.22% | 1.33% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Carroll, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Carroll, 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 Carroll 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 Carroll, 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 Carroll helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 51401 has the highest and lowest median tax bill of $2052.00, compared to the national median property tax rate of 0.99%.
Average Carroll Assessed Value
$174,345
Average Carroll County Assessed Value
$153,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carroll, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51401 | $77,770 | $119,658 | $174,345 | $264,695 | $378,825 |
Source: Ownwell
Property Tax Bills Across Carroll, Iowa
In Carroll, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Carroll is $174,345. Various factors such as property location, size, and improvements can influence the assessed value. The median property tax bill in Carroll is notably higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and public service funding needs. Homeowners in Carroll can expect tax bills that vary significantly. At the 25th percentile, the tax bill is around $1,394, while at the 75th percentile, it can rise to $3,047. The tax bill can reach as high as $4,394 at the 90th percentile, illustrating the range of property values and tax obligations within the city. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Carroll Tax Bill
$2,052
Average Carroll County Tax Bill
$1,746
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Carroll, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51401 | $907 | $1,394 | $2,052 | $3,047 | $4,394 |
Source: Ownwell