Charles City, Floyd County, Iowa Property Taxes
Median Charles City, IA effective property tax rate: 1.48%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Charles City, IA home value: $109,750
Median annual Charles City, IA tax bill: $1,633, $767 lower than the national median property tax bill of $2,400.
How are property taxes in Floyd County calculated?
Property taxes in Charles City, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Charles City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Charles City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Charles City, Floyd County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.48%
Estimate Property Tax Bill
$1,624
$1,507
Property Tax Rates Across Charles City, Floyd County, Iowa
Local government entities are responsible for setting tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Charles City, located in Floyd County, the effective property tax rate stands at 1.48%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to other cities in Iowa, Charles City's property tax rate is on the higher end of the spectrum. This means homeowners in Charles City might face higher property tax bills compared to the national median property tax bill of $2,400. Evaluating these differences can provide valuable insights for property owners looking to manage their tax liabilities effectively. Understanding the nuances of local property tax rates can be crucial for homeowners aiming to optimize their expenses.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Charles City Tax Rate
1.48%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Floyd County Tax Rate
1.40%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Charles City, Floyd County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50616 | 1.09% | 1.29% | 1.48% | 1.65% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Charles City, Floyd County, Iowa
When examining property taxes in Charles City, Iowa, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Floyd County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Floyd County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Charles City.
For example, the median home price in Charles City is $109,750, with tax bills ranging significantly across the county. The zip code 50616 has the highest median home price at $109,750.
Property Tax Assessment Values Across Charles City, Floyd County, Iowa
Source: Ownwell
$33,880
$165,370
$296,860
Median Charles City Market Value
$109,750
Median Floyd County Market Value
$118,220
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Charles City, Floyd County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50616 | $35,618 | $69,030 | $109,750 | $197,290 | $296,318 |
Source: Ownwell
Property Tax Bills Across Charles City, Floyd County, Iowa
In Charles City, located in Floyd County, IA, property tax bills are determined by the assessed value of a home, which is a percentage of its market value, and the local tax rate. Homeowners in Charles City face a median property tax bill of $1,633, which is below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,036 and the 90th percentile reaching $4,000. These variations are influenced by factors such as property location, improvements, and local government budgets. For homeowners, a higher tax bill can mean increased financial strain, especially if the bill is unexpectedly high.
Ownwell offers a solution by providing property tax appeal services to help homeowners reduce their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell can assist in filing appeals to lower assessed values, potentially saving homeowners a substantial amount on their tax bills. With expertise in local tax laws and procedures, Ownwell ensures that homeowners pay only their fair share, providing peace of mind and financial relief.
Median Charles City Tax Bill
$1,633
Median Floyd County Tax Bill
$1,659
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Charles City, Floyd County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50616 | $590 | $1,036 | $1,633 | $2,624 | $4,000 |
Source: Ownwell