Festina, Iowa Property Taxes
The median property tax rate in Festina, IA is 1.14%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $482,550 in Festina, the typical annual property tax bill amounts to $5,499, surpassing the national median of $2,690. Property taxes in Festina are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Festina'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 Festina 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
Festina, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$5,501
Ownwell’s Festina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Festina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Festina 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 Festina, Iowa
Property taxes in Festina, Iowa, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Festina is 1.14%, which is significantly higher than both the Iowa state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Festina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Festina 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 Festina's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52144 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Festina provides valuable insights into the varying tax landscape across Winneshiek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Festina Tax Rate
1.14%
Average Winneshiek County Tax Rate
1.33%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Festina, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Festina, Iowa
In Festina, 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 Winneshiek 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 Festina, 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. The highest and lowest median tax bills in Festina are both recorded at $5,499 in the 52144 zip code. 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 Festina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Festina Assessed Value
$482,550
Average Winneshiek County Assessed Value
$200,930
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Festina, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | $428,654 | $448,865 | $482,550 | $516,235 | $536,446 |
Source: Ownwell
Property Tax Bills Across Festina, Iowa
In Festina, located in Winneshiek County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Homeowners in Festina experience a range of property tax bills, with the 25th percentile at $5,110 and the 75th percentile at $5,888, while the 90th percentile reaches $6,121. The tax rate applied to the assessed value is influenced by local government budgets and funding requirements for public services such as schools, infrastructure, and emergency services. Comparatively, the national median property tax rate is 0.99%, and Festina's tax bills are relatively higher, reflecting the area's specific fiscal needs and property values. For homeowners, these tax bills can significantly impact annual expenses, making it essential to understand how assessed values and local tax rates contribute to the total amount owed.
Average Festina Tax Bill
$5,499
Average Winneshiek County Tax Bill
$2,768
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Festina, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52144 | $4,877 | $5,110 | $5,499 | $5,888 | $6,121 |
Source: Ownwell