Northboro, Iowa Property Taxes
The median property tax rate in Northboro, IA is 1.25%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Northboro at $169,955, the typical annual property tax bill reaches $2,075, which is below the national median of $2,690. Property taxes in Northboro 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 Northboro'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 Northboro 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
Northboro, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$2,124
Ownwell’s Northboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Northboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Northboro 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 Northboro, Iowa
Property taxes in Northboro, Iowa, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Northboro is 0.95%, lower than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Northboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Northboro 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 Northboro's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51647 has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Northboro provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Northboro Tax Rate
1.25%
Average Fremont County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Northboro, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51647 | 0.91% | 1.11% | 1.25% | 1.34% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Northboro, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Northboro, 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 Fremont County Appraisal District 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 Northboro, 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. The median home price in Northboro is $169,955, with tax bills ranging from $1,056 at the 25th percentile to $2,466 at the 75th percentile, and $2,729 at the 90th percentile. The highest and lowest median tax bill is $2,075 in zip code 51647. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Northboro Assessed Value
$169,955
Average Fremont County Assessed Value
$118,270
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Northboro, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51647 | $70,387 | $104,150 | $169,955 | $199,338 | $209,677 |
Source: Ownwell
Property Tax Bills Across Northboro, Iowa
In Northboro, IA, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine your tax bill. For instance, with a median home price of $169,955, homeowners can expect varying tax bills depending on specific factors like property location and applicable exemptions. The 25th percentile tax bill is around $1,056, while the 75th percentile reaches up to $2,466. At the 90th percentile, tax bills can rise to approximately $2,729. These tax bills are influenced by multiple factors, including the property's assessed value, any exemptions you qualify for, and the specific tax rate in your area. High property taxes can significantly impact homeowners, affecting their monthly budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Northboro's tax bills reflect the localized nature of property taxation, which can vary widely even within the same state.
Average Northboro Tax Bill
$2,075
Average Fremont County Tax Bill
$1,562
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Northboro, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51647 | $893 | $1,056 | $2,075 | $2,466 | $2,729 |
Source: Ownwell