50161 Property Tax Rate

Property owners in ZIP code 50161 (Maxwell, Iowa) pay a median of $2,859/year in property taxes on homes valued at $204,600. This translates to an effective tax rate of 1.40%, which is 9% above the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50161 is approximately $238, which factors into escrow payments on mortgages. This ZIP code is located within Polk County. This is $794 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50161 has lower property taxes. ZIP codes with similar effective rates include 50845 (1.40%) and 50648 (1.40%).

In Maxwell, property taxes represent approximately 3.1% of the median household income of $93,281, providing context for the relative tax burden on homeowners in this area.

Iowa's triennial reassessment system will update your Polk County property to current fair market value within three years with no legislative cap on assessment increases. Polk County homeowners qualify for the Homestead Property Tax Exemption reducing taxable assessed value by approximately 25% and the Homestead Property Tax Credit for qualifying incomes; file your homestead exemption claim with the Polk County Assessor within 90 days of closing. File a written Assessment Appeal with the Polk County Board of Review within 45 days of receiving your Notice of Assessment if the assessed value does not align with recent comparable sales in your area.