Manly, Iowa Property Taxes
The median property tax rate in Manly, IA is 1.16%, notably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Manly, the typical annual property tax bill reaches $1,336, which is below the national median of $2,690. Property taxes in Manly are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Manly'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 Manly or another part of Worth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Manly, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,364
Ownwell’s Manly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manly 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 Manly, Iowa
Property taxes in Manly, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manly is 1.16%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Manly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manly 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 Manly's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50456 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Manly provides valuable insights into the varying tax landscape across Worth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manly Tax Rate
1.16%
Average Worth County Tax Rate
1.17%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manly, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50456 | 0.79% | 0.97% | 1.16% | 1.32% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Manly, Iowa
In Manly, 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 authorities 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 Manly, 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 Manly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $1,336 in the 50456 zip code, while the lowest median tax bill is also $1,336 in the same zip code.
Average Manly Assessed Value
$117,561
Average Worth County Assessed Value
$133,156
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manly, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50456 | $44,519 | $75,614 | $117,561 | $174,930 | $242,207 |
Source: Ownwell
Property Tax Bills Across Manly, Iowa
In Manly, located in Worth 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 local assessors who evaluate the property's market value. Homeowners in Manly can expect property tax bills to vary significantly. For instance, the 25th percentile of tax bills is around $921, while the 75th percentile can reach up to $1,846. At the higher end, the 90th percentile of tax bills is approximately $2,477. The median home price in Manly is $117,561, which influences the overall tax bill. Compared to the national median property tax rate of 0.99%, the tax rates in Manly may be more favorable or less favorable, depending on individual property assessments and local levies. These tax bills impact homeowners by affecting their annual financial planning and the overall cost of homeownership. Understanding these factors can help homeowners anticipate their tax liabilities and manage their budgets effectively.
Average Manly Tax Bill
$1,336
Average Worth County Tax Bill
$1,502
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Manly, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50456 | $545 | $921 | $1,336 | $1,846 | $2,477 |
Source: Ownwell