50647 Property Tax Rate

Property owners in ZIP code 50647 (Janesville, Iowa) pay a median of $3,003/year in property taxes on homes valued at $278,200. This translates to an effective tax rate of 1.08%, which is 15% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50647 is approximately $250, which factors into escrow payments on mortgages. This ZIP code is located within Bremer County. This is $938 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50647 has higher property taxes. ZIP codes with similar effective rates include 51030 (1.08%) and 51234 (1.08%).

In Janesville, property taxes represent approximately 3.1% of the median household income of $98,052, providing context for the relative tax burden on homeowners in this area.

Iowa uses full market value assessment with no annual cap, meaning the Bremer County Assessor can increase your tax liability each year based on property appreciation or revaluation. The Homestead Property Tax Credit (HPTC) offers income-based relief up to $1,375 per year for homeowners earning below $32,400, directly reducing what you owe in property taxes. Contact the Bremer County Assessor's office to file your HPTC application within 60 days of purchase and confirm your eligibility.