50214 Property Tax Rate

Property owners in ZIP code 50214 (Otley, Iowa) pay a median of $3,208/year in property taxes on homes valued at $354,600. This translates to an effective tax rate of 0.90%, which is 29% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50214 is approximately $267, which factors into escrow payments on mortgages. This ZIP code is located within Marion County. This is $1,143 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50214 has lower property taxes. ZIP codes with similar effective rates include 51572 (0.90%) and 52146 (0.91%).

In Otley, property taxes represent approximately 2.7% of the median household income of $118,958, providing context for the relative tax burden on homeowners in this area.

Iowa does not cap property tax increases at purchase or reassessment; the Marion County Assessor will establish your property value at purchase price, and subsequent annual increases are not limited by state law. Marion County residents age 65+, disabled homeowners, and veterans may qualify for county-level exemptions—verify your eligibility directly with the Marion County Assessor. File your exemption claim with the Marion County Assessor by the January 1 deadline to ensure relief on your next tax bill.