52142 Property Tax Rate

Property owners in ZIP code 52142 (Fayette, Iowa) pay a median of $1,987/year in property taxes on homes valued at $183,200. 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 52142 is approximately $166, which factors into escrow payments on mortgages. This ZIP code is located within Fayette County.

Compared to similar ZIP codes in Iowa, 52142 has higher property taxes. ZIP codes with similar effective rates include 50274 (1.08%) and 50472 (1.08%).

In Fayette, property taxes represent approximately 4.1% of the median household income of $48,718, providing context for the relative tax burden on homeowners in this area.

Iowa reassesses properties at market value annually with no cap, so your tax liability may increase each year based on changing home values and county assessments by the Fayette County Assessor. The Homestead Property Tax Credit (HPTC) provides income-based relief for homeowners earning under $32,400, potentially reducing taxes by up to $1,375 per year. File your HPTC application with the Fayette County Assessor immediately after purchase to lock in the credit for the coming tax year.