Percival, Iowa Property Taxes
The median property tax rate in Percival, IA is 1.12%, higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Percival, the typical annual property tax bill reaches $1,196, exceeding the national median of $2,690. Property taxes in Percival 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 Percival'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 Percival 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
Percival, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,119
Ownwell’s Percival Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Percival with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Percival 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 Percival, Iowa
Property taxes in Percival, Iowa, play a critical role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Percival is 1.12%, which is higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Percival set these rates annually, and they can vary significantly across different neighborhoods. Each year, Percival 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 Percival's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51648 has both the highest and lowest median property tax rates at 1.12%. Understanding how these areas compare with Percival 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 Percival Tax Rate
1.12%
Average Fremont County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Percival, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51648 | 0.68% | 0.92% | 1.12% | 1.37% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Percival, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Percival. 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 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 Percival, 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. For example, the median home price in Percival is $99,870, with tax bills ranging from $298 at the 25th percentile to $2,934 at the 90th percentile. The highest and lowest median tax bills are both $1,196 in the zip code 51648. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Percival Assessed Value
$99,870
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 Percival, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51648 | $8,888 | $41,618 | $99,870 | $174,110 | $271,402 |
Source: Ownwell
Property Tax Bills Across Percival, Iowa
In Percival, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the home. For example, with a median home price of $99,870, the property tax rate in Percival is compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Percival can expect their property tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $298, while those at the 75th percentile reach up to $1,954. The highest median tax bill in the area is $1,196, located within the 51648 zip code. These variations in property tax bills can impact homeowners' budgets, influencing decisions on homeownership and financial planning. Understanding these factors is crucial for managing property-related expenses effectively.
Average Percival Tax Bill
$1,196
Average Fremont County Tax Bill
$1,562
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Percival, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51648 | $74 | $298 | $1,196 | $1,954 | $2,934 |
Source: Ownwell