Cedar Falls, Iowa Property Taxes
The median property tax rate in Cedar Falls, IA is 1.31%, 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 $293,000 in Cedar Falls, the typical annual property tax bill amounts to $3,618, surpassing the national median of $2,690. Property taxes in Cedar Falls are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cedar Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cedar Falls 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
Cedar Falls, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$3,838
Ownwell’s Cedar Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Falls 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 Cedar Falls, Iowa
Property taxes in Cedar Falls, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Falls is 1.31%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Cedar Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Falls 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 Cedar Falls' effective property tax rate to other counties in Iowa and the national median. For comparison, the 50613 zip code has the highest median property tax rate of 1.31%, while the same 50613 zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Cedar Falls provides valuable insights into the varying tax landscape across Bremer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Falls Tax Rate
1.31%
Average Bremer County Tax Rate
1.48%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Falls, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | 1.25% | 1.27% | 1.31% | 1.35% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Falls, Iowa
In Cedar Falls, 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 Bremer County Assessor 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 Cedar Falls, 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. The median home price in Cedar Falls is $293,000, with the 25th percentile tax bill at $3,404 and the 75th percentile at $4,382. The highest and lowest median tax bills are $3,618 in the 50613 zip code. Being aware of these valuation processes in Cedar Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cedar Falls Assessed Value
$293,000
Average Bremer County Assessed Value
$189,165
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Falls, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | $241,248 | $260,655 | $293,000 | $342,920 | $372,872 |
Source: Ownwell
Property Tax Bills Across Cedar Falls, Iowa
In Cedar Falls, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Cedar Falls is $293,000, and property tax rates are applied to this assessed value to calculate the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value, leading to variations in tax bills among homeowners. Homeowners in Cedar Falls can expect property tax bills ranging from $3,404 at the 25th percentile to $4,382 at the 75th percentile, with the 90th percentile reaching up to $4,840. These figures are significant when compared to the national median property tax rate of 0.99%. For instance, the highest median tax bill in Cedar Falls is $3,618, which is applied uniformly across the zip code 50613. Understanding these calculations can help homeowners anticipate their annual expenses, plan their budgets, and make informed decisions about purchasing or renovating property in Cedar Falls.
Average Cedar Falls Tax Bill
$3,618
Average Bremer County Tax Bill
$2,696
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Falls, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | $3,276 | $3,404 | $3,618 | $4,382 | $4,840 |
Source: Ownwell