Cedar Falls, Black Hawk County, Iowa Property Taxes
The median property tax rate in Cedar Falls, IA is 1.50%, slightly lower than the Iowa state median of 1.54% but still higher than the national median of 0.99%. With the median home value in Cedar Falls at $213,020, the typical annual property tax bill reaches $3,196, significantly surpassing the national median of $2,690. Property taxes in Cedar Falls are calculated based on the tax assessed value, which often falls below the market value due to 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, Black Hawk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$3,195
$2,965
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, Black Hawk County, Iowa
Property taxes in Cedar Falls, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Falls is 1.50%, 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 zip code 50613 has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Cedar Falls provides valuable insights into the varying tax landscape across Black Hawk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Falls Tax Rate
1.50%
Average Black Hawk County Tax Rate
1.57%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Falls, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | 1.28% | 1.42% | 1.50% | 1.59% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Falls, Black Hawk County, 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 Black Hawk 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. 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. The highest and lowest median tax bills in Cedar Falls are both $3,196 in the 50613 zip code.
Property Tax Assessment Values Across Cedar Falls, Black Hawk County, Iowa
Source: Ownwell
$64,875
$177,100
$289,325
Average Cedar Falls Assessed Value
$213,020
Average Black Hawk County Assessed Value
$149,990
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Falls, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | $98,542 | $154,660 | $213,020 | $306,308 | $421,891 |
Source: Ownwell
Property Tax Bills Across Cedar Falls, Black Hawk County, Iowa
In Cedar Falls, located in Black Hawk County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $213,020, homeowners can expect varying tax bills depending on the assessed value and applicable tax rate. Several factors influence the final tax bill, including the property's location within the county, any applicable exemptions, and local government budget needs. Tax bills in Cedar Falls range widely, with the 25th percentile at $2,346 and the 75th percentile at $4,668. The highest median tax bill in the area is $3,196, found in the 50613 zip code. These property taxes significantly impact homeowners, affecting monthly mortgage payments and overall affordability. Understanding these factors can help homeowners better anticipate their annual financial obligations and plan accordingly.
Average Cedar Falls Tax Bill
$3,196
Average Black Hawk County Tax Bill
$2,318
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Falls, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | $1,620 | $2,346 | $3,196 | $4,668 | $6,396 |
Source: Ownwell