neophob.com

ID3v1
There was a stan­dard for text encod­ing (ISO 8859–1), but in prac­tice, users usu­ally used local encod­ings which is why mojibake is a com­mon prob­lem in ID3v1 tags.

ID3v2
ID3v2.3 allows for “stan­dard” ISO 8859–1 encod­ing and UTF-16. Uni­code strings must begin with the Uni­code BOM ($FF FE or $FE FF) to iden­tify the byte order. All numeric strings and URLs are always encoded as ISO-8859–1.
ID3v2.4 also sup­ports UTF-8 (also ISO 8859–1 and UTF-16). v2.4 has not achieved pop­u­lar sta­tus as v2.3!

So don’t use ID3v1 anymore!