Cedar Falls, Butler County, Iowa Property Taxes
The median property tax rate in Cedar Falls, IA, is 1.14%, notably higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $244,620 in Cedar Falls, the typical annual property tax bill amounts to $2,954, surpassing the national median of $2,690. Property taxes in Cedar Falls are calculated based on the tax assessed value, which generally falls below the market value due to various 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, Butler County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$2,789
$2,588
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, Butler County, Iowa
Property taxes in Cedar Falls, Iowa, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Falls is 1.14%, 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 50613 zip code has the highest median property tax rate of 1.14%, while the same 50613 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Cedar Falls provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Falls Tax Rate
1.14%
Average Butler County Tax Rate
1.42%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Falls, Butler County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | 1.07% | 1.10% | 1.14% | 1.18% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Falls, Butler 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 Butler 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. For example, the highest median tax bill in Cedar Falls is $2,954, and the lowest is also $2,954, both in zip code 50613. 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.
Property Tax Assessment Values Across Cedar Falls, Butler County, Iowa
Source: Ownwell
$29,770
$185,580
$341,390
Average Cedar Falls Assessed Value
$244,620
Average Butler County Assessed Value
$143,820
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Falls, Butler County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | $66,420 | $156,850 | $244,620 | $359,220 | $462,448 |
Source: Ownwell
Property Tax Bills Across Cedar Falls, Butler County, Iowa
In Cedar Falls, located in Butler County, IA, property tax bills are determined based on the assessed value of a home rather than its market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Cedar Falls, the median home price stands at $244,620. Property tax bills can vary significantly, with the 25th percentile at $1,914 and the 75th percentile reaching $4,126. Those at the 90th percentile see tax bills as high as $5,131. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners in Cedar Falls to understand how their local rate compares. For instance, the highest median tax bill in the area is $2,954, found in the 50613 zip code. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Cedar Falls Tax Bill
$2,954
Average Butler County Tax Bill
$1,964
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Falls, Butler County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50613 | $1,048 | $1,914 | $2,954 | $4,126 | $5,131 |
Source: Ownwell