Cresco, Howard County, Iowa Property Taxes
The median property tax rate in Cresco, IA is 1.63%, considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Cresco, the typical annual property tax bill reaches $1,874, which is below the national median of $2,690. Property taxes in Cresco are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cresco's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cresco or another part of Howard County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cresco, Howard County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$2,054
$1,906
Ownwell’s Cresco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cresco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cresco 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 Cresco, Howard County, Iowa
Property taxes in Cresco, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cresco is 1.63%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cresco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cresco 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 Cresco's effective property tax rate to other areas in Howard County and the national median. For comparison, the highest and lowest median property tax rates in Cresco are both 1.63%, highlighting a consistent tax landscape within the city. Understanding how these figures compare with Cresco provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cresco Tax Rate
1.63%
Average Howard County Tax Rate
1.43%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cresco, Howard County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52136 | 1.08% | 1.28% | 1.63% | 1.77% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Cresco, Howard County, Iowa
In Cresco, Iowa, understanding the distinction between "market value" and "assessed value" is essential for grasping 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 Howard 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. Assessment notices in Cresco 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. Cresco’s median home price is $126,035, with tax bills ranging from $1,260 at the 25th percentile to $4,130 at the 90th percentile. The highest and lowest median tax bills both stand at $1,874 in the 52136 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Cresco, Howard County, Iowa
Source: Ownwell
$78,735
$134,103
$189,470
Average Cresco Assessed Value
$126,035
Average Howard County Assessed Value
$120,780
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cresco, Howard County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52136 | $50,700 | $80,020 | $126,035 | $190,358 | $288,545 |
Source: Ownwell
Property Tax Bills Across Cresco, Howard County, Iowa
In Cresco, located in Howard County, IA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners in Cresco experience a median home price of $126,035, and the local property tax rate is applied to this valuation to determine the annual tax bill. Several factors influence the assessment, including the property's size, location, and condition. Once the assessment is complete, the tax rate—reflecting local government and school district funding needs—is applied. For homeowners in Cresco, the tax bill can vary significantly; the 25th percentile tax bill is $1,260, while the 75th percentile reaches $2,754. For those in the 90th percentile, tax bills can be as high as $4,130. These property taxes play a crucial role in funding essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for Cresco residents.
Average Cresco Tax Bill
$1,874
Average Howard County Tax Bill
$1,672
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cresco, Howard County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 52136 | $766 | $1,260 | $1,874 | $2,754 | $4,130 |
Source: Ownwell