Toddville, Iowa Property Taxes
The median property tax rate in Toddville, IA is 1.39%, which is notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $255,000 in Toddville, the typical annual property tax bill amounts to $3,635, surpassing the national median of $2,690. Property taxes in Toddville are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Toddville'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 Toddville 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
Toddville, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$3,545
Ownwell’s Toddville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toddville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toddville 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 Toddville, Iowa
Property taxes in Toddville, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toddville is 1.39%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Toddville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toddville 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 Toddville's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52341 ZIP code has the highest median property tax rate of 1.39%, while the same ZIP code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with Toddville provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Toddville Tax Rate
1.39%
Average Linn County Tax Rate
1.84%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toddville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52341 | 1.33% | 1.37% | 1.39% | 1.43% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Toddville, Iowa
In Toddville, 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 Linn 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 Toddville, 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 Toddville 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 $3,635, found in the 52341 zip code.
Average Toddville Assessed Value
$255,000
Average Linn County Assessed Value
$173,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Toddville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52341 | $88,700 | $160,100 | $255,000 | $345,500 | $443,240 |
Source: Ownwell
Property Tax Bills Across Toddville, Iowa
In Toddville, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the property tax rate set by local taxing authorities. For homeowners in Toddville, the median home price is $255,000. Several factors influence the final tax bill, including the property's location within Linn County, any applicable exemptions, and the specific tax rate for the area. Homeowners in Toddville can expect their annual tax bills to vary significantly. For instance, those in the 25th percentile pay around $2,388, while those in the 75th percentile face bills closer to $5,023. At the 90th percentile, the tax bill can reach up to $6,559. These tax amounts can have a substantial impact on homeowners' budgets, making it crucial for property owners to understand how their tax bills are calculated and to seek any available exemptions or appeal options to potentially reduce their financial burden.
Average Toddville Tax Bill
$3,635
Average Linn County Tax Bill
$3,328
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Toddville, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52341 | $1,438 | $2,388 | $3,635 | $5,023 | $6,559 |
Source: Ownwell