Davenport, Bettendorf and Scott County Mortgage Hub: Iowa vs Illinois Quad Cities Tax Math — Iowa Home Unpacked
Updated October 2026
A Quad Cities buyer can work on one side of the Mississippi and purchase on the other, but the cheapest listing does not necessarily produce the cheapest ownership cost. Compare Davenport, Bettendorf, Eldridge and LeClaire against Illinois alternatives using actual parcel information, insurance quotes and commuting costs—not a broad claim that one state always costs less.
Compare tax bills, not assessment percentages
Iowa's residential rollback generally means roughly 46%–47% of assessed market value enters the taxable-value calculation before other adjustments. Illinois uses a different assessment framework. Placing those percentages beside each other does not produce a meaningful tax comparison because levies, equalization and exemptions also affect the result.
Build a worksheet for specific properties:
| Expense | Comparison method |
|---|---|
| Property taxes | Current bill plus expected assessment changes |
| Insurance | Address-specific quotes with matching coverage |
| Travel | Actual route, parking and fuel |
| Association costs | Dues and planned assessments |
Review Iowa credits and exemptions through the Iowa Department of Revenue. Use the monthly payment calculator with each property's own annual tax figure rather than applying a statewide average.
Separate seller taxes from buyer cash
Iowa real estate transfer tax is $0.80 per $500 of taxable consideration above the initial $500 exemption, approximately 0.16%, and is customarily seller-paid. The statutory calculation uses $500 increments or fractions, so a rough percentage is not an exact closing figure.
Iowa property taxes are paid in arrears, with installments in September and March. At closing, tax prorations allocate responsibility between the parties; they are not the same thing as the lender's escrow deposit. Ask the closing team to show both entries clearly.
The closing cost estimator can organize these costs before a formal statement arrives. The Consumer Financial Protection Bureau provides guidance for comparing the Loan Estimate with the Closing Disclosure.
Keep financing and location decisions connected
Scott County shares Iowa's $832,750 baseline conforming limit for 2026. Buyers needing assistance should compare FirstHome with Homes for Iowans through the Iowa Finance Authority; repeat buyers may qualify for the latter.
A LeClaire river-view property also deserves an address-specific flood and insurance review. In Eldridge or on the county fringe, verify utilities and any private septic obligations. Make the final choice using a complete monthly payment and realistic cash reserves, not the tax line or mortgage rate in isolation.
Compare Current Mortgage Rates
Compare current APRs, points, fees, and estimated monthly payments from participating lenders below.
Loan Program Comparison: 2026 Benchmarks
Davenport, Bettendorf and Scott County Mortgage Hub: Iowa vs Illinois Quad Cities Tax Math — Choose a mortgage by comparing eligibility, upfront cash and total monthly costs, not the advertised rate alone. Conventional, FHA, VA and USDA serve different borrowers. Confirm county limits, taxes, insurance and lender requirements before comparing personalized Loan Estimates for your household.
Historical 2025 one-unit comparison: conforming $832,750; FHA floor $541,287. County and unit-count limits can differ.
| Loan program | Down payment / equity | 2026 one-unit baseline | Costs and page-specific comparison |
|---|---|---|---|
| Conventional | 3%–5% subject to eligibility | $832,750 | PMI generally below 20% down |
| FHA | 3.5% at 580+; 10% at 500–579 | $541,287 floor | 1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years |
| VA | 0% for eligible borrowers | No VA limit with full entitlement | No monthly PMI; funding fee unless exempt |
| USDA | 0% for eligible borrowers | Income, address and repayment eligibility | Guarantee and annual fees; confirm current schedule |
| Jumbo | Lender-specific cash and reserves | Above applicable conforming limit | Lender-specific pricing and insurance |
| Home Equity / Refinance | Equity and underwriting dependent | Property and lender dependent | Compare closing costs, term and break-even |
Sources: FHFA limits; HUD FHA limits.
Editorial Methodology & Primary Sources
Verification date: Not recorded; check the primary source and lender timestamp before relying on an estimate.
Rate comparisons use participating lender feeds, not a whole-market survey or guaranteed offers. Freddie Mac PMMS is a market benchmark, not a personalized quote. Calculator models rely on published regulatory formulas and disclosed assumptions rather than fabricated first-person loan testing.
Monthly principal and interest use the amortization formula P × r / (1 − (1 + r)−n), where r is the monthly note rate and n is the number of payments; at zero interest use P / n. PITI adds monthly property taxes and homeowners insurance; PMI is separate. APR includes applicable finance charges under Regulation Z and is not the note rate used for payments. Compare lender Loan Estimates for actual APR and fees.
- Consumer Financial Protection Bureau (CFPB) — Loan Estimates, APR and borrower disclosures; Regulation Z.
- U.S. Department of Housing and Urban Development (HUD / FHA) — FHA program guidance.
- U.S. Department of Veterans Affairs (VA) — VA loan eligibility and benefits.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — published rate benchmarks.
- U.S. Census state tax collections — state property tax benchmarks; confirm parcel-specific assessments and exemptions with the state revenue department and local assessor.
- Iowa Finance Authority — state housing finance and property tax authority.
- Iowa Department of Revenue — state housing finance and property tax authority.
The payment snapshot uses illustrative annual taxes of 1% of home price, $1,200 insurance and 0.5% PMI below 20% down, not verified local quotes. Other calculators disclose their inputs and assumptions. Published guidance and lender feeds may change independently; confirm current program rules, taxes and offers before a decision.