Waterloo, Black Hawk County, Iowa Property Taxes
Median Waterloo, IA effective property tax rate: 1.70%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Waterloo, IA home value: $117,140
Median annual Waterloo, IA tax bill: $1,926, $474 lower than the national median property tax bill of $2,400.
How are property taxes in Black Hawk County calculated?
Property taxes in Waterloo, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Waterloo’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waterloo, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Waterloo, Black Hawk County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.7%
Estimate Property Tax Bill
$1,991
$1,848
Property Tax Rates Across Waterloo, Black Hawk County, Iowa
Local government entities set tax rates, which can vary widely within a state. This is because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Waterloo’s effective property tax rate to other cities in Iowa and the median property tax rates in Iowa and the U.S.
Waterloo, located in Black Hawk County, has a median property tax rate of 1.70%. This rate is notably higher than the national median of 1.02%, reflecting the local government's budgetary needs and property values. Within Black Hawk County, the highest median tax rate can be found in the 50701 zip code at 1.74%, while the lowest is in the 50707 zip code at 1.61%. These variations highlight how property tax rates can differ even within a single county, emphasizing the importance of understanding local tax structures.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Waterloo Tax Rate
1.70%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Black Hawk County Tax Rate
1.57%
Median Effective Iowa Tax Rate
1.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Waterloo, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50701 | 1.37% | 1.61% | 1.74% | 1.83% | 1.97% |
| 50702 | 1.42% | 1.56% | 1.65% | 1.80% | 1.99% |
| 50703 | 1.19% | 1.44% | 1.65% | 1.86% | 2.07% |
| 50707 | 1.47% | 1.56% | 1.61% | 1.79% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Waterloo, Black Hawk County, Iowa
When examining property taxes in Waterloo, Iowa, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Black Hawk County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Black Hawk County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Waterloo.
For example, the median home price in Waterloo is $117,140, with tax bills ranging significantly across the county. Zip code 50701 has the highest median home price at $150,000.
Property Tax Assessment Values Across Waterloo, Black Hawk County, Iowa
Source: Ownwell
$64,875
$177,100
$289,325
Median Waterloo Market Value
$117,140
Median Black Hawk County Market Value
$149,990
Median Iowa Market Value
$167,100
Median United States Market Value
$235,294
Property Tax Assessment Values Across Waterloo, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50701 | $47,996 | $84,540 | $150,000 | $213,530 | $302,968 |
| 50702 | $47,820 | $74,535 | $123,590 | $161,635 | $205,036 |
| 50703 | $27,833 | $45,020 | $64,875 | $106,910 | $172,137 |
| 50707 | $21,116 | $74,070 | $121,045 | $158,442 | $204,959 |
Source: Ownwell
Property Tax Bills Across Waterloo, Black Hawk County, Iowa
Median Waterloo Tax Bill
$1,926
Median Black Hawk County Tax Bill
$2,318
Median Iowa Tax Bill
$2,508
Median United States Tax Bill
$2,400
Property Tax Bills Across Waterloo, Black Hawk County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50701 | $812 | $1,472 | $2,556 | $3,634 | $5,024 |
| 50702 | $831 | $1,258 | $1,998 | $2,698 | $3,414 |
| 50703 | $558 | $814 | $1,140 | $1,764 | $2,440 |
| 50707 | $457 | $1,418 | $1,970 | $2,554 | $3,098 |
Source: Ownwell