50117 Property Tax Rate

Property owners in ZIP code 50117 (Hamlin, Iowa) pay a median of $1,469/year in property taxes on homes valued at $215,000. This translates to an effective tax rate of 0.68%, which is 46% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50117 is approximately $122, which factors into escrow payments on mortgages. This ZIP code is located within Audubon County. This is $596 less than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50117 has higher property taxes. ZIP codes with similar effective rates include 50232 (0.68%) and 51630 (0.67%).

In Hamlin, property taxes represent approximately 1.6% of the median household income of $93,214, providing context for the relative tax burden on homeowners in this area.

Iowa does not cap property tax increases at purchase or reassessment; the Audubon County Assessor will value your property at purchase price, and that value is subject to annual adjustment. Check with the Audubon County Assessor's office for available exemptions for seniors (age 65+), disabled persons, or veterans, as these are county-administered. Submit exemption paperwork to the Audubon County Assessor within 30 days of closing to qualify for the earliest possible tax year.