50642 Property Tax Rate

Property owners in ZIP code 50642 (Holland, Iowa) pay a median of $1,426/year in property taxes on homes valued at $181,300. This translates to an effective tax rate of 0.79%, which is 38% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50642 is approximately $119, which factors into escrow payments on mortgages. This ZIP code is located within Grundy County. This is $639 less than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50642 has lower property taxes. ZIP codes with similar effective rates include 51045 (0.78%) and 50657 (0.79%).

In Holland, property taxes represent approximately 1.3% of the median household income of $108,750, providing context for the relative tax burden on homeowners in this area.

Iowa taxes property at 100% market value with no statutory increase cap, so reassessments by the Grundy County Assessor can raise your annual bill without limitation. The Homestead Property Tax Credit (HPTC) provides relief for homeowners with household income below $32,400, offering credits up to $1,375 per year. Register for the HPTC with the Grundy County Assessor within 60 days of closing to qualify for the credit in the year you purchase.