Clear Lake, Cerro Gordo County, Iowa Property Taxes

Name: Property Tax Bills Across Clear Lake, Cerro Gordo County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Clear Lake, IA effective property tax rate: 1.20%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Clear Lake, IA home value: $275,490
Median annual Clear Lake, IA tax bill: $3,077, $677 higher than the national median property tax bill of $2,400.

How are property taxes in Cerro Gordo calculated?

Property taxes in Clear Lake, 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 Clear Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Clear Lake, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Clear Lake, Cerro Gordo County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.2%

Estimate Property Tax Bill

$3,306

$3,068

Ownwell’s Clear Lake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clear Lake with just two data points. By entering your property's estimated assessed value, our calculator applies Clear Lake’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cerro Gordo. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Clear Lake, Cerro Gordo County, Iowa

Local government entities set tax rates, and these can vary significantly within a state. This variability exists because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

In Clear Lake, located in Cerro Gordo County, IA, the effective property tax rate stands at 1.20%. This rate aligns with both the highest and lowest median tax rates in the state, which are also 1.20%. When compared to the national median property tax rate of 1.02%, Clear Lake’s rate is slightly higher. Additionally, the national median property tax bill is $2,400, providing further context for comparison. Understanding these figures can help homeowners in Clear Lake and Cerro Gordo County make informed decisions about their property taxes.

Property Tax Rates Across Clear Lake, Cerro Gordo County, Iowa

Source: Ownwell

0.29%

0.93%

1.56%

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 Clear Lake Tax Rate

1.20%

Median Effective Cerro Gordo County Tax Rate

1.43%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Clear Lake, Cerro Gordo County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50428	0.88%	1.03%	1.20%	1.27%	1.34%

Source: Ownwell

Property Tax Assessment Values Across Clear Lake, Cerro Gordo County, Iowa

When examining property taxes in Clear Lake, IA, 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 Cerro Gordo County Assessor 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. Assessment notices: In Cerro Gordo 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 Clear Lake. For example, the median home price in Clear Lake is $275,490, with tax bills ranging significantly across the county. 50428 has the highest median home price at $275,490.

Property Tax Assessment Values Across Clear Lake, Cerro Gordo County, Iowa

Source: Ownwell

$48,130

$188,515

$328,900

Median Clear Lake Market Value

$275,490

Median Cerro Gordo County Market Value

$157,690

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Clear Lake, Cerro Gordo County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50428	$134,756	$186,360	$275,490	$441,180	$805,000

Source: Ownwell

Property Tax Bills Across Clear Lake, Cerro Gordo County, Iowa

In Clear Lake, Cerro Gordo County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the tax bill. The median home price in this area is $275,490, with property tax bills ranging from $1,986 at the 25th percentile to $9,102 at the 90th percentile. The highest and lowest median tax bills in the area are both $3,077, indicating a consistent tax rate across different properties. This calculation can significantly impact homeowners, as higher assessed values lead to higher tax bills, which can strain household budgets. However, Ownwell can assist homeowners in Clear Lake by providing expert property tax appeal and exemption services. By reviewing your property’s assessed value and ensuring it aligns with the market value, Ownwell can help reduce your property tax bill, potentially saving you thousands of dollars annually.

Property Tax Bills Across Clear Lake, Cerro Gordo County, Iowa

Source: Ownwell

$613

$1,845

$3,077

Median Clear Lake Tax Bill

$3,077

Median Cerro Gordo County Tax Bill

$2,032

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Clear Lake, Cerro Gordo County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50428	$1,237	$1,986	$3,077	$5,188	$9,102

Source: Ownwell