52556 Property Tax Rate

Property owners in ZIP code 52556 (Fairfield, Iowa) pay a median of $2,668/year in property taxes on homes valued at $168,200. This translates to an effective tax rate of 1.59%, which is 24% above the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 52556 is approximately $222, which factors into escrow payments on mortgages. This ZIP code is located within Jefferson County. This is $603 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 52556 has lower property taxes. ZIP codes with similar effective rates include 52728 (1.58%) and 51442 (1.59%).

In Fairfield, property taxes represent approximately 4.8% of the median household income of $55,528, providing context for the relative tax burden on homeowners in this area.

Iowa does not cap assessed value growth at purchase or annually — your property will be reassessed at market value following purchase, potentially doubling or tripling your tax bill from the prior owner's amount. Jefferson County offers a Homestead Exemption for primary residences and a Military Service Tax Exemption for veterans; apply directly to the assessor's office. Contact the Jefferson County Assessor immediately after closing to file for homestead exemption and review your property record for accuracy before the deadline.