Tingley, Iowa Property Taxes
The median property tax rate in Tingley, IA is 1.40%, which is considerably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Tingley at $43,685, the typical annual property tax bill reaches $967, significantly below the national median of $2,690. Property taxes in Tingley 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 Tingley'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 Tingley or another part of Ringgold County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tingley, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$612
Ownwell’s Tingley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tingley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tingley 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 Tingley, Iowa
Property taxes in Tingley, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tingley is 1.40%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Tingley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tingley 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 Tingley's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50863 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Tingley provides valuable insights into the varying tax landscape across Ringgold County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tingley Tax Rate
1.40%
Average Ringgold County Tax Rate
1.44%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tingley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50863 | 1.01% | 1.20% | 1.40% | 1.65% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Tingley, Iowa
In Tingley, 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 Ringgold 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 Tingley, 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. For instance, the highest median tax bill in Tingley is $967.00 in the 50863 zip code, while the lowest is also $967.00 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tingley Assessed Value
$43,685
Average Ringgold County Assessed Value
$101,674
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tingley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50863 | $1,870 | $13,541 | $43,685 | $121,123 | $206,928 |
Source: Ownwell
Property Tax Bills Across Tingley, Iowa
In Tingley, Ringgold County, IA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners in Tingley typically see property tax bills that vary widely, reflecting the range in property values and the local tax rate. For instance, the 25th percentile tax bill is $338, while the 75th percentile tax bill is significantly higher at $1,624. At the 90th percentile, homeowners could pay as much as $2,539 in property taxes. These tax bills are influenced by factors such as property size, location, and improvements made to the home. The local tax rate in Tingley can be compared to the national median property tax rate of 0.99%. Higher tax bills can place a financial strain on homeowners, particularly those with properties assessed at higher values, while lower tax bills can be beneficial for those with properties assessed at the lower end of the spectrum.
Average Tingley Tax Bill
$967
Average Ringgold County Tax Bill
$1,488
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Tingley, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50863 | $77 | $338 | $967 | $1,624 | $2,539 |
Source: Ownwell