Iowa variant. This is a Iowa-specific version of the Property Tax Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Property Tax Calculator.
Iowa's effective property tax rate of 1.5% means the owner of a median $220,000 home pays roughly $3,300 per year - a figure that varies widely by state.
How Iowa property tax is calculated
Property tax = assessed value × local millage rate. The 1.5% effective rate shown here is the statewide average of tax paid relative to market value, which smooths over county-by-county differences.
On the $220,000 Iowa median home, that works out to about $3,300/year or $275/month - often escrowed into your mortgage payment.
About taxes and housing in Iowa
Iowa is transitioning to a flat individual income tax, replacing its former graduated brackets.
Iowa has above-average property taxes that are administered locally and fund schools and county services.
Iowa's economy is led by agriculture, especially corn and soybeans, along with biofuels, insurance, and advanced manufacturing.
Worked example: tax on a $220,000 home
$220,000 × 1.5% = $3,300 per year. A $500,000 home in Iowa would owe about $7,500 annually at the same effective rate.
Quick reference
- State income tax: 4.4-5.7%, transitioning to flat 3.9% by 2026
- State sales tax: 6% (plus 0.94% avg local)
- Median home value: $220,000
- Median household income: $70,571
- Effective property tax rate: 1.5%
- Avg auto insurance: $1,322/yr
Frequently Asked Questions
What is the property tax rate in Iowa?
Iowa's effective property tax rate averages 1.5% of market value per year.
How much property tax on a $220,000 home in Iowa?
About $3,300 per year at the 1.5% effective rate.