Floris, Davis County, Iowa Property Taxes
The median property tax rate in Floris, IA is 1.50%, slightly lower than the Iowa state median of 1.54% but still higher than the national median of 0.99%. With the median home value in Floris being $87,280, the typical annual property tax bill reaches $1,180, which is below the national median of $2,690. Property taxes in Floris 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 Floris'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 Floris 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
Floris, Davis County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$1,309
$1,215
Ownwell’s Floris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Floris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Floris 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 Floris, Davis County, Iowa
Property taxes in Floris, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Floris is 1.50%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Floris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Floris 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 Floris's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 52560 has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Floris provides valuable insights into the varying tax landscape across Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Floris Tax Rate
1.50%
Average Davis County Tax Rate
1.75%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Floris, Davis County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52560 | 0.89% | 1.23% | 1.50% | 1.72% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Floris, Davis County, Iowa
In Floris, 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 Davis 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 Floris, 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 Floris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1180, found in zip code 52560.
Property Tax Assessment Values Across Floris, Davis County, Iowa
Source: Ownwell
$80,650
$122,165
$163,680
Average Floris Assessed Value
$87,280
Average Davis County Assessed Value
$127,685
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Floris, Davis County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52560 | $15,776 | $44,970 | $87,280 | $160,450 | $236,040 |
Source: Ownwell
Property Tax Bills Across Floris, Davis County, Iowa
In Floris, located in Davis County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Floris is $87,280. Property tax rates are applied to this assessed value to determine the annual tax bill. For instance, homeowners in the 25th percentile pay around $636, while those in the 75th percentile see bills of approximately $2,214. At the 90th percentile, the tax bill can reach up to $3,344. Several factors influence the assessed value, including the property's market value, improvements, and comparable sales in the area. These assessments ensure that homeowners contribute fairly to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the property tax bills in Floris reflect the local economic conditions and funding needs. Homeowners should stay informed about their property's assessed value and any changes in tax rates to manage their annual expenses effectively.
Average Floris Tax Bill
$1,180
Average Davis County Tax Bill
$2,254
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Floris, Davis County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52560 | $198 | $636 | $1,180 | $2,214 | $3,344 |
Source: Ownwell