Cerro Gordo County, Iowa Property Taxes
The median property tax rate in Cerro Gordo County is 1.43%, which is notably higher than the national median of 0.99% but slightly lower than the Iowa state median of 1.54%. With a median home value of $157,690 in Cerro Gordo County, the typical annual property tax bill is $2,032, which is below the national median of $2,690. Property taxes in Cerro Gordo County are determined based on the tax assessed value, often lower than the actual market value due to various exemptions such as those for primary residences and agricultural properties. Understanding the specific property tax system in Cerro Gordo County, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you reside in Mason City or another part of Cerro Gordo County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cerro Gordo County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,255
$2,093
Ownwell’s Cerro Gordo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Cerro Gordo with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Cerro Gordo to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Cerro Gordo County, Iowa
Property taxes in Cerro Gordo play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cerro Gordo is 1.43%, which is higher than the U.S. national median of 0.99%. Local government entities within Cerro Gordo set these rates annually, and they can vary significantly between different areas within the county. Each year, Cerro Gordo estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Cerro Gordo's effective property tax rate with other counties in Iowa and the national median. For comparison, Mason City has one of the higher property tax rates in Iowa at 1.56%, while the city of Klemme boasts one of the lowest at 0.41%. Analyzing how Cerro Gordo's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Cerro Gordo County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cerro Gordo County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Clear Lake | 0.88% | 1.03% | 1.20% | 1.27% | 1.34% |
| Dougherty | 0.20% | 0.48% | 1.03% | 1.32% | 1.37% |
| Fertile | N/A | N/A | N/A | N/A | N/A |
| Hanlontown | 0.14% | 0.15% | 0.29% | 0.37% | 0.66% |
| Klemme | N/A | N/A | N/A | N/A | N/A |
| Manly | N/A | N/A | N/A | N/A | N/A |
| Mason City | 1.23% | 1.43% | 1.56% | 1.64% | 1.73% |
| Meservey | 0.67% | 1.16% | 1.35% | 1.60% | 1.62% |
| Nora Springs | N/A | N/A | N/A | N/A | N/A |
| Plymouth | 0.19% | 0.86% | 1.15% | 1.26% | 1.34% |
| Rock Falls | 0.92% | 1.01% | 1.05% | 1.10% | 1.11% |
| Rockford | N/A | N/A | N/A | N/A | N/A |
| Rockwell | 0.25% | 0.86% | 1.36% | 1.48% | 1.57% |
| Sheffield | N/A | N/A | N/A | N/A | N/A |
| Swaledale | 0.14% | 0.45% | 1.11% | 1.34% | 1.48% |
| Thornton | 0.30% | 0.95% | 1.20% | 1.33% | 1.40% |
| Ventura | 0.52% | 1.07% | 1.32% | 1.46% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Cerro Gordo County, Iowa
In Cerro Gordo County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Cerro Gordo Appraisal District. The assessed value, however, 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. Assessment notices in Cerro Gordo County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, Clear Lake has the highest median tax bill at $3,077, while Dougherty has the lowest at $613. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Cerro Gordo County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Cerro Gordo County, Iowa
Source: Ownwell
$48,130
$188,515
$328,900
Average Cerro Gordo County Assessed Value
$157,690
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cerro Gordo County, Iowa
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Clear Lake | $134,756 | $186,360 | $275,490 | $441,180 | $805,000 |
| Dougherty | $19,890 | $43,330 | $74,500 | $192,055 | $319,564 |
| Fertile | N/A | N/A | N/A | N/A | N/A |
| Hanlontown | $216,194 | $286,780 | $328,900 | $385,430 | $453,886 |
| Klemme | N/A | N/A | N/A | N/A | N/A |
| Manly | N/A | N/A | N/A | N/A | N/A |
| Mason City | $50,404 | $80,448 | $124,500 | $196,978 | $308,897 |
| Meservey | $20,408 | $31,905 | $48,130 | $71,525 | $196,650 |
| Nora Springs | N/A | N/A | N/A | N/A | N/A |
| Plymouth | $54,260 | $85,150 | $128,870 | $199,610 | $296,400 |
| Rock Falls | $76,948 | $105,200 | $155,600 | $208,345 | $292,326 |
| Rockford | N/A | N/A | N/A | N/A | N/A |
| Rockwell | $75,593 | $107,850 | $160,230 | $228,650 | $301,506 |
| Sheffield | N/A | N/A | N/A | N/A | N/A |
| Swaledale | $33,364 | $55,875 | $91,090 | $206,045 | $315,226 |
| Thornton | $46,004 | $70,190 | $107,070 | $176,750 | $250,918 |
| Ventura | $99,258 | $152,600 | $230,825 | $411,185 | $658,920 |
Source: Ownwell
Property Tax Bills Across Cerro Gordo County, Iowa
In Cerro Gordo County, IA, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value reflects the market value of the home. Homeowners in Cerro Gordo County experience a range of property tax bills, influenced by factors such as property location, size, and improvements. For instance, the median home price in the county is $157,690. Property tax bills can vary significantly within the county. At the 25th percentile, homeowners might pay around $1,228, while those at the 75th percentile could see bills as high as $3,364. The top 10% of property tax bills can soar to $5,676. Cities within the county also show variation; Clear Lake has the highest median tax bill at $3,077, while Dougherty has the lowest at $613. Compared to the national median property tax rate of 0.99%, Cerro Gordo County offers a diverse range of tax obligations, impacting homeowners differently based on their property's assessed value and location.
Average Cerro Gordo County Tax Bill
$2,032
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cerro Gordo County, Iowa
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Clear Lake | $1,237 | $1,986 | $3,077 | $5,188 | $9,102 |
| Dougherty | $171 | $336 | $613 | $1,092 | $1,674 |
| Fertile | N/A | N/A | N/A | N/A | N/A |
| Hanlontown | $327 | $716 | $816 | $1,072 | $2,704 |
| Klemme | N/A | N/A | N/A | N/A | N/A |
| Manly | N/A | N/A | N/A | N/A | N/A |
| Mason City | $720 | $1,162 | $1,828 | $2,862 | $4,718 |
| Meservey | $260 | $450 | $617 | $948 | $1,400 |
| Nora Springs | N/A | N/A | N/A | N/A | N/A |
| Plymouth | $366 | $722 | $1,216 | $1,894 | $2,454 |
| Rock Falls | $535 | $865 | $1,648 | $2,193 | $2,969 |
| Rockford | N/A | N/A | N/A | N/A | N/A |
| Rockwell | $378 | $953 | $1,635 | $2,504 | $3,236 |
| Sheffield | N/A | N/A | N/A | N/A | N/A |
| Swaledale | $187 | $440 | $786 | $1,355 | $2,013 |
| Thornton | $341 | $638 | $1,059 | $1,544 | $2,310 |
| Ventura | $848 | $1,552 | $2,512 | $4,722 | $8,128 |
Source: Ownwell