Humboldt, Iowa Property Taxes
The median property tax rate in Humboldt, IA is 1.29%, notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With the median home value in Humboldt at $175,000, the typical annual property tax bill amounts to $2,258, which is below the national median of $2,690. Property taxes in Humboldt are determined based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Humboldt'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 Humboldt 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
Humboldt, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,659
Ownwell’s Humboldt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Humboldt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Humboldt 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 Humboldt, Iowa
Property taxes in Humboldt, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Humboldt is 1.53%, higher than both the Iowa state median of 1.50% and the U.S. national median of 0.99%. Local government entities within Humboldt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Humboldt 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 Humboldt's effective property tax rate to other counties in Iowa and the national median. For comparison, the highest median property tax rate in Iowa is 2.00% in Johnson County, while the lowest median tax rate is 1.00% in Pocahontas County. Understanding how these cities compare with Humboldt provides valuable insights into the varying tax landscape across Humboldt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Humboldt Tax Rate
0.99%
Average Webster County Tax Rate
1.86%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Humboldt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50548 | 0.91% | 0.92% | 0.99% | 1.05% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Humboldt, Iowa
In Humboldt, 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 local 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 Humboldt, 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 Humboldt 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 city both stand at $2,758, found in the 50548 zip code.
Average Humboldt Assessed Value
$268,550
Average Webster County Assessed Value
$94,900
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Humboldt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50548 | $85,580 | $188,630 | $268,550 | $402,155 | $505,202 |
Source: Ownwell
Property Tax Bills Across Humboldt, Iowa
In Humboldt, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For context, the median home price in Humboldt stands at $268,550. Property tax bills can vary significantly, with the 25th percentile paying around $1,737, while those in the 75th percentile face bills of about $3,572. At the higher end, the 90th percentile of homeowners may see tax bills as high as $4,666. These tax bills are influenced by several factors, including changes in property value, local government budgets, and specific levies for schools or infrastructure projects. Compared to the national median property tax rate of 0.99%, Humboldt's property tax rates can lead to significant annual costs for homeowners. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Humboldt Tax Bill
$2,758
Average Webster County Tax Bill
$1,626
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Humboldt, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50548 | $1,040 | $1,737 | $2,758 | $3,572 | $4,666 |
Source: Ownwell