Charles City, Iowa Property Taxes
The median property tax rate in Charles City, IA is 1.48%, which is higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With a median home value of $109,750 in Charles City, the typical annual property tax bill amounts to $1,633, which is below the national median of $2,690. Property taxes in Charles City are calculated based on the tax assessed value, which tends to be lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Charles City'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 Charles City 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
Charles City, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$1,624
Ownwell’s Charles City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Charles City with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charles City to provide an accurate estimate of your property tax bill. This insightful tool helps you understand your potential tax liabilities and plan accordingly. For those interested in more detailed information, neighborhood-level trends are available further down the page. Your property’s assessed value is determined by Floyd County for tax calculations and may include applicable exemptions.
Property Tax Rates Across Charles City, Iowa
Property taxes in Charles City, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charles City is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Charles City set these rates annually, and they can vary across different neighborhoods. Each year, Charles City 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 Charles City's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 50616 has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Charles City provides valuable insights into the varying tax landscape across Floyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charles City Tax Rate
1.48%
Average Floyd County Tax Rate
1.40%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charles City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50616 | 1.09% | 1.29% | 1.48% | 1.65% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Charles City, Iowa
In Charles City, 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 Floyd 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 Charles City, 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 Charles City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 50616 has the highest and lowest median tax bill at $1,633.
Average Charles City Assessed Value
$109,750
Average Floyd County Assessed Value
$118,220
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charles City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50616 | $35,618 | $69,030 | $109,750 | $197,290 | $296,318 |
Source: Ownwell
Property Tax Bills Across Charles City, Iowa
In Charles City, located in Floyd County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects the market value of the property. Homeowners in Charles City see tax bills that vary significantly depending on their property's assessed value and the local tax rate. The tax rate in Charles City can lead to substantial differences in tax bills. For instance, the 25th percentile tax bill is around $1,036, while the 75th percentile tax bill can reach up to $2,624. At the higher end, the 90th percentile tax bill is approximately $4,000. This variation highlights how the assessed value and local tax rate directly impact the amount homeowners owe annually. Compared to the national median property tax rate of 0.99%, Charles City's tax rates can result in relatively higher tax bills. Homeowners need to be aware of these factors as they significantly influence their annual financial obligations.
Average Charles City Tax Bill
$1,633
Average Floyd County Tax Bill
$1,659
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Charles City, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50616 | $590 | $1,036 | $1,633 | $2,624 | $4,000 |
Source: Ownwell