Holy Cross, Iowa Property Taxes
The median property tax rate in Holy Cross, IA is 0.96%, slightly below the national median of 0.99% and significantly lower than the Iowa state median of 1.54%. With a median home value of $224,150, the typical annual property tax bill in Holy Cross is $2,116, which is less than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often comes in below the market value due to various exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Holy Cross's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Holy Cross or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holy Cross, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,152
Ownwell’s Holy Cross Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Holy Cross with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holy Cross to provide an estimate of 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 Holy Cross, Iowa
Property taxes in Holy Cross, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holy Cross is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Holy Cross set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holy Cross 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 Holy Cross's effective property tax rate to other areas in Dubuque County and the national median. For comparison, the zip code 52053 has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Holy Cross provides valuable insights into the varying tax landscape across Dubuque County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holy Cross Tax Rate
0.96%
Average Dubuque County Tax Rate
1.29%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holy Cross, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52053 | 0.86% | 0.90% | 0.96% | 1.04% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Holy Cross, Iowa
In Holy Cross, 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 Dubuque 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 Holy Cross, 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 Holy Cross helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 52053 has the same highest and lowest median tax bill at $2,116.
Average Holy Cross Assessed Value
$224,150
Average Dubuque County Assessed Value
$216,801
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holy Cross, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52053 | $130,670 | $171,825 | $224,150 | $297,814 | $362,730 |
Source: Ownwell
Property Tax Bills Across Holy Cross, Iowa
In Holy Cross, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the property tax rate set by Dubuque County. For example, with a median home price of $224,150, homeowners can expect different tax bills depending on their property's assessed value. The 25th percentile tax bill in Holy Cross is approximately $1,618, while the 75th percentile reaches around $2,929, and the 90th percentile goes up to $3,613. These tax bills are influenced by various factors, including property size, location, and improvements. Homeowners in Holy Cross should note that their property tax rate is compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area are both $2,116 for the zip code 52053, reflecting a consistent tax environment. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Holy Cross Tax Bill
$2,116
Average Dubuque County Tax Bill
$2,714
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Holy Cross, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52053 | $1,186 | $1,618 | $2,116 | $2,929 | $3,613 |
Source: Ownwell