Lisbon, Iowa Property Taxes
The median property tax rate in Lisbon, IA is 1.21%, which is higher than both the national median of 0.99% and Iowa's state median of 1.54%. With the median home value in Lisbon being $308,640, the typical annual property tax bill reaches $4,048, significantly exceeding the national median of $2,690. Property taxes in Lisbon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lisbon'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 Lisbon or another part of Cedar County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lisbon, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$3,735
Ownwell’s Lisbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisbon 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 Lisbon, Iowa
Property taxes in Lisbon, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisbon is 1.21%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Lisbon set these rates annually, and they can vary across different neighborhoods. Each year, Lisbon 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 Lisbon's effective property tax rate to other counties in Iowa and the national median. For comparison, the 52253 zip code has the highest median property tax rate of 1.21%, while the 52253 zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Lisbon provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lisbon Tax Rate
1.21%
Average Cedar County Tax Rate
1.28%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisbon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52253 | 1.11% | 1.16% | 1.21% | 1.25% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Lisbon, Iowa
In Lisbon, 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 Cedar 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 Lisbon, 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 Lisbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52253 has the highest and lowest median tax bill at $4,048.
Average Lisbon Assessed Value
$308,640
Average Cedar County Assessed Value
$186,910
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lisbon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52253 | $71,853 | $209,928 | $308,640 | $426,082 | $511,133 |
Source: Ownwell
Property Tax Bills Across Lisbon, Iowa
In Lisbon, Cedar County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Lisbon is $308,640, and homeowners can expect varying tax bills depending on the assessed value of their property. For instance, at the 25th percentile, the tax bill is approximately $2,808, while at the 75th percentile, it rises to about $5,244. For those at the 90th percentile, the tax bill can reach up to $6,325. These figures show how property taxes can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. In Cedar County, the highest and lowest median tax bills are both $4,048, indicating a relatively consistent tax rate across different properties. Understanding these factors helps homeowners anticipate their annual financial obligations.
Average Lisbon Tax Bill
$4,048
Average Cedar County Tax Bill
$2,390
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisbon, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52253 | $2,132 | $2,808 | $4,048 | $5,244 | $6,325 |
Source: Ownwell