Cedar Rapids, Iowa Property Taxes
The median property tax rate in Cedar Rapids, IA is 1.80%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Cedar Rapids at $166,900, the typical annual property tax bill reaches $3,070, exceeding the national median of $2,690. Property taxes in Cedar Rapids 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 Cedar Rapids' 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 Rapids 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 Rapids, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,004
Ownwell’s Cedar Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Rapids 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 Rapids, Iowa
Property taxes in Cedar Rapids, Iowa, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Rapids is 1.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cedar Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Rapids 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 Rapids's effective property tax rate to other areas in Iowa and the national median. For comparison, the 52401 zip code has the highest median property tax rate of 1.92%, while the 52411 zip code has the lowest median tax rate of 1.74%. Understanding how these areas compare with Cedar Rapids provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Rapids Tax Rate
1.80%
Average Linn County Tax Rate
1.84%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Rapids, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52401 | 1.35% | 1.73% | 1.92% | 2.05% | 2.06% |
| 52402 | 1.62% | 1.72% | 1.82% | 1.92% | 2.02% |
| 52403 | 1.38% | 1.67% | 1.80% | 1.90% | 1.99% |
| 52404 | N/A | N/A | N/A | N/A | N/A |
| 52405 | 1.62% | 1.72% | 1.80% | 1.88% | 1.95% |
| 52411 | 1.36% | 1.38% | 1.74% | 1.82% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Rapids, Iowa
In Cedar Rapids, 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 Linn 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 Rapids, 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 Cedar Rapids helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is found in zip code 52411 at $5,785, while the lowest is in zip code 52401 at $1,500.
Average Cedar Rapids Assessed Value
$166,900
Average Linn County Assessed Value
$173,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Rapids, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52401 | $43,600 | $55,700 | $93,900 | $156,800 | $233,640 |
| 52402 | $83,120 | $125,200 | $172,000 | $234,200 | $297,200 |
| 52403 | $83,200 | $119,100 | $163,100 | $243,125 | $377,640 |
| 52404 | N/A | N/A | N/A | N/A | N/A |
| 52405 | $102,900 | $140,400 | $169,100 | $217,100 | $283,770 |
| 52411 | $225,440 | $280,300 | $356,000 | $448,600 | $583,440 |
Source: Ownwell
Property Tax Bills Across Cedar Rapids, Iowa
In Cedar Rapids, located in Linn County, IA, property tax bills are calculated based on the assessed value of the home. The local assessor determines this value, which is ideally reflective of the property's market value. Homeowners in Cedar Rapids face a median property tax rate that can vary significantly across different parts of the city. For instance, the median home price stands at $166,900, and property tax bills can range widely depending on the specific area and property value. Factors such as the property's location, size, and improvements are considered when determining the assessed value. In Cedar Rapids, the 25th percentile tax bill is $2,166, while the 75th percentile reaches $4,552, and the 90th percentile can go as high as $6,534. The highest median tax bill in the city is $5,785 in the 52411 zip code, whereas the lowest is $1,500 in the 52401 zip code. These property tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Cedar Rapids Tax Bill
$3,070
Average Linn County Tax Bill
$3,328
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Rapids, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52401 | $756 | $990 | $1,500 | $2,787 | $4,334 |
| 52402 | $1,456 | $2,268 | $3,132 | $4,425 | $5,832 |
| 52403 | $1,312 | $2,038 | $2,944 | $4,354 | $6,694 |
| 52404 | N/A | N/A | N/A | N/A | N/A |
| 52405 | $1,634 | $2,424 | $3,002 | $3,848 | $5,088 |
| 52411 | $3,355 | $4,294 | $5,785 | $7,722 | $10,214 |
Source: Ownwell