Ferguson, Marshall County, Iowa Property Taxes
The median property tax rate in Ferguson, IA is 2.01%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Ferguson, the typical annual property tax bill reaches $587, falling below the national median of $2,690. Property taxes in Ferguson 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 Ferguson'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 Ferguson 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
Ferguson, Marshall County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$640
$594
Ownwell’s Ferguson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferguson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferguson 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 Ferguson, Marshall County, Iowa
Property taxes in Ferguson, Iowa, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferguson is 2.01%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ferguson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferguson 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 Ferguson's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50078 zip code has the highest median property tax rate of 2.01%, while the same zip code also has the lowest median tax rate of 2.01%. Understanding how these cities compare with Ferguson provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ferguson Tax Rate
2.01%
Average Marshall County Tax Rate
1.58%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferguson, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50078 | 1.35% | 1.68% | 2.01% | 2.33% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Ferguson, Marshall County, Iowa
In Ferguson, 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 Marshall 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 Ferguson, 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 Ferguson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 50078, with a median tax bill of $587.
Property Tax Assessment Values Across Ferguson, Marshall County, Iowa
Source: Ownwell
$31,865
$126,573
$221,280
Average Ferguson Assessed Value
$31,865
Average Marshall County Assessed Value
$128,210
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ferguson, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50078 | $8,700 | $16,920 | $31,865 | $44,238 | $59,335 |
Source: Ownwell
Property Tax Bills Across Ferguson, Marshall County, Iowa
In Ferguson, located in Marshall County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Ferguson is $31,865. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors, including property size, location, and improvements, influence the assessed value. Homeowners in Ferguson can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is approximately $354, while at the 75th percentile, it rises to about $956. For those in the 90th percentile, the tax bill can reach up to $1,226. Compared to the national median property tax rate of 0.99%, Ferguson's tax rates can be considered relatively moderate. These property taxes contribute to local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners need to budget for these taxes as part of their annual expenses.
Average Ferguson Tax Bill
$587
Average Marshall County Tax Bill
$1,909
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferguson, Marshall County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50078 | $171 | $354 | $587 | $956 | $1,226 |
Source: Ownwell