50040 Property Tax Rate

Property owners in ZIP code 50040 (Boxholm, Iowa) pay a median of $769/year in property taxes on homes valued at $72,700. This translates to an effective tax rate of 1.06%, which is 17% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50040 is approximately $64, which factors into escrow payments on mortgages. This ZIP code is located within Boone County. This is $1,296 less than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50040 has lower property taxes. ZIP codes with similar effective rates include 50258 (1.06%) and 50541 (1.06%).

In Boxholm, property taxes represent approximately 1.5% of the median household income of $50,313, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 50040, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Boone County's tax assessor directly.