50612 Property Tax Rate

Property owners in ZIP code 50612 (Buckingham, Iowa) pay a median of $2,960/year in property taxes on homes valued at $281,500. This translates to an effective tax rate of 1.05%, which is 18% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50612 is approximately $247, which factors into escrow payments on mortgages. This ZIP code is located within Tama County. This is $895 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50612 has lower property taxes. ZIP codes with similar effective rates include 51246 (1.05%) and 51052 (1.05%).

Iowa does not cap property tax increases at purchase or reassessment; the Tama County Assessor will establish your property value at market value with no state homestead exemption to protect against annual increases. Tama County provides local exemptions for seniors, disabled homeowners, and veterans—contact the Tama County Assessor to learn income limits, asset restrictions, and application deadlines. File your exemption claim with the Tama County Assessor by January 1 to ensure relief on the following tax year's bill.