Parkersburg, Iowa Property Taxes
The median property tax rate in Parkersburg, IA is 1.00%, slightly higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Parkersburg at $227,100, the typical annual property tax bill reaches $2,270, which is below the national median of $2,690. Property taxes in Parkersburg are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Parkersburg'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 Parkersburg 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
Parkersburg, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$2,271
Ownwell’s Parkersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parkersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parkersburg 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 Parkersburg, Iowa
Property taxes in Parkersburg, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkersburg is 1.44%, higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Parkersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkersburg 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 Parkersburg's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50665 zip code has the highest median property tax rate of 1.44%, while the same zip code has the lowest median tax rate of 1.44%. Understanding how these cities compare with Parkersburg provides valuable insights into the varying tax landscape across Butler, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parkersburg Tax Rate
1.00%
Average Grundy County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkersburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50665 | 0.89% | 0.93% | 1.00% | 1.10% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Parkersburg, Iowa
In Parkersburg, 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 Grundy 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 Parkersburg, 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 Parkersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,270, found in the 50665 zip code.
Average Parkersburg Assessed Value
$227,100
Average Grundy County Assessed Value
$168,355
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parkersburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50665 | $109,124 | $177,760 | $227,100 | $328,930 | $451,682 |
Source: Ownwell
Property Tax Bills Across Parkersburg, Iowa
In Parkersburg, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The property tax rate in Parkersburg is then applied to this assessed value to determine the tax bill. The median home price in the area is $227,100, which helps set a benchmark for assessed values. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in Parkersburg is $1,701, while the 75th percentile tax bill is $3,329, showing a range based on different property characteristics and assessed values. The highest median tax bill recorded in the area is $2,270. These property tax bills significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Homeowners in Parkersburg should be aware of how these factors affect their tax obligations and seek any available exemptions to potentially lower their tax burden.
Average Parkersburg Tax Bill
$2,270
Average Grundy County Tax Bill
$2,137
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkersburg, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50665 | $1,124 | $1,701 | $2,270 | $3,329 | $4,828 |
Source: Ownwell