50632 Property Tax Rate

Property owners in ZIP code 50632 (Garwin, Iowa) pay a median of $1,699/year in property taxes on homes valued at $134,300. This translates to an effective tax rate of 1.27%, which is near the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50632 is approximately $142, which factors into escrow payments on mortgages. This ZIP code is located within Tama County. This is $366 less than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50632 has higher property taxes. ZIP codes with similar effective rates include 50129 (1.26%) and 50236 (1.26%).

In Garwin, property taxes represent approximately 2.4% of the median household income of $70,865, providing context for the relative tax burden on homeowners in this area.

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.