Cambridge, Polk County, Iowa Property Taxes

Name: Property Tax Bills Across Cambridge, Polk County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Cambridge, Iowa effective property tax rate: 1.52%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Cambridge, Iowa home value: $411,035
Median annual Cambridge, Iowa tax bill: $6,044, $3,644 higher than the national median property tax bill of $2,400.

How are property taxes in Polk County calculated?

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

Last Updated March 1, 2025

Cambridge, Polk County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.52%

Estimate Property Tax Bill

$6,248

$5,798

Ownwell’s Cambridge Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cambridge with just two data points. By entering your property's estimated assessed value, our calculator applies Cambridge’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 Polk County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cambridge, Polk County, Iowa

Local government entities determine property tax rates, which can differ significantly within a state. Each year, counties calculate their necessary budgets for public services and divide this amount by the total assessed value of all taxable properties in their area. This calculation establishes the property tax rate. Though votes and legislation play a role in setting these rates and budgets, this is the basic annual process.

In Cambridge, located in Polk County, the effective property tax rate is 1.52%, which stands out when compared to other cities in Iowa. This rate is notably higher than the national median property tax rate of 1.02%. With Iowa's median property tax rate also at 1.52%, Cambridge aligns with the state average but surpasses the national level.

Evaluating Cambridge's rate provides insight into the local fiscal landscape and how it compares to broader state and national trends. Understanding these differences can help property owners make informed decisions regarding property tax appeals and exemptions.

Property Tax Rates Across Cambridge, Polk County, Iowa

Source: Ownwell

1.33%

1.70%

2.06%

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 Cambridge Tax Rate

1.52%

Median Effective Polk County Tax Rate

1.69%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cambridge, Polk County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50046	1.44%	1.50%	1.52%	1.56%	1.64%

Source: Ownwell

Property Tax Assessment Values Across Cambridge, Polk County, Iowa

When examining property taxes in Cambridge, Iowa, 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 Polk 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: Polk County sends assessment notices 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 Cambridge. For example, the median home price in Cambridge is $411,035, with tax bills ranging significantly across the county. 50046 has the highest median home price at $411,035.

Property Tax Assessment Values Across Cambridge, Polk County, Iowa

Source: Ownwell

$2,050

$223,775

$445,500

Median Cambridge Market Value

$411,035

Median Polk County Market Value

$231,500

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cambridge, Polk County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50046	$202,272	$271,425	$411,035	$509,700	$585,720

Source: Ownwell

Property Tax Bills Across Cambridge, Polk County, Iowa

In Cambridge, located in Polk County, IA, property tax bills are determined by assessing the property's market value and applying the local tax rate. With a median home price of $411,035, homeowners in this area face property tax bills that can be significantly higher than the national median tax bill of $2,400. For instance, the 25th percentile tax bill is $4,098, while the 75th percentile reaches $7,798, and the 90th percentile climbs to $8,939. These figures highlight the financial impact on homeowners, who must budget for these substantial annual expenses.

Factors such as property location, improvements, and local tax levies contribute to the final tax bill. Ownwell offers valuable services to help homeowners in Cambridge reduce these costs. By providing expert property tax appeal and exemption services, Ownwell can identify potential savings opportunities, ensuring that homeowners are not overpaying. Through professional guidance and support, Ownwell assists homeowners in navigating the complexities of property tax assessments, ultimately helping them save money on their tax bills.

Property Tax Bills Across Cambridge, Polk County, Iowa

Source: Ownwell

$28

$3,264

$6,500

Median Cambridge Tax Bill

$6,044

Median Polk County Tax Bill

$3,904

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Cambridge, Polk County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50046	$2,758	$4,098	$6,044	$7,798	$8,939

Source: Ownwell

Don't miss the deadline to appeal!

Dates

Links
Polk Tax Assessor
Website	www.assess.co.polk.ia.us