Cushing, Iowa Property Taxes
The median property tax rate in Cushing, IA is 1.48%, which is higher than the national median of 0.99% but slightly below the Iowa state median of 1.54%. With the median home value in Cushing, the typical annual property tax bill reaches $906, significantly lower than the national median of $2,690. Property taxes in Cushing are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cushing'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 Cushing 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
Cushing, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$897
Ownwell’s Cushing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cushing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cushing 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 Cushing, Iowa
Property taxes in Cushing, Iowa, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Cushing is 1.48%, significantly higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Cushing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cushing 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 Cushing's effective property tax rate to other counties in Iowa and the national median. For comparison, the zip code 51018 has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Cushing provides valuable insights into the varying tax landscape across Woodbury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cushing Tax Rate
1.48%
Average Woodbury County Tax Rate
1.52%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cushing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51018 | 1.03% | 1.18% | 1.48% | 1.64% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Cushing, Iowa
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cushing, Iowa. The market value represents 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 local appraisal district 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 Cushing, 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. The median home price in Cushing is $60,580, with the 25th percentile tax bill at $568 and the 75th percentile tax bill at $1,676. Notably, the highest and lowest median tax bills are both $906 in the 51018 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cushing Assessed Value
$60,580
Average Woodbury County Assessed Value
$157,600
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cushing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51018 | $20,934 | $36,985 | $60,580 | $115,565 | $187,502 |
Source: Ownwell
Property Tax Bills Across Cushing, Iowa
In Cushing, located in Woodbury County, Iowa, 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 and reflects the market value of the property. Homeowners in Cushing experience a range of property tax bills, with the 25th percentile at $568 and the 75th percentile reaching $1,676. For those at the higher end, the 90th percentile tax bill is $2,341. The median home price in Cushing is $60,580, and the property tax rate is a crucial factor in determining the final tax bill. Compared to the national median property tax rate of 0.99%, Cushing's property taxes can significantly impact homeowners, especially those with higher-valued properties. The highest median tax bill in the area is $906, which is a reflection of the local economic conditions and property values. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly.
Average Cushing Tax Bill
$906
Average Woodbury County Tax Bill
$2,352
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Cushing, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 51018 | $268 | $568 | $906 | $1,676 | $2,341 |
Source: Ownwell