Colfax, Jasper County, Iowa Property Taxes

Name: Property Tax Bills Across Colfax, Jasper County, Iowa
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Colfax, IA effective property tax rate: 1.64%, significantly higher than the national median of 1.02%, but lower than the Iowa state median of 1.54%.
Median Colfax, IA home value: $165,540
Median annual Colfax, IA tax bill: $2,558, $158 higher than the national median property tax bill of $2,400.

How are property taxes in Jasper calculated?

Property taxes in Colfax, IA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Colfax’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Colfax, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Colfax, Jasper County, Iowa Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.64%

Estimate Property Tax Bill

$2,715

$2,519

Ownwell’s Colfax Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Colfax with just two data points. By entering your property's estimated assessed value, our calculator applies Colfax’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Jasper County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Colfax, Jasper County, Iowa

As noted earlier, local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Colfax’s effective property tax rate to other cities in Iowa and the median property tax rates in Iowa and the U.S.

Property Tax Rates Across Colfax, Jasper County, Iowa

Source: Ownwell

0.98%

1.40%

1.81%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Colfax Tax Rate

1.64%

Median Effective Jasper County Tax Rate

1.61%

Median Effective Iowa Tax Rate

1.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Colfax, Jasper County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
50054	1.17%	1.24%	1.64%	1.81%	1.88%

Source: Ownwell

Property Tax Assessment Values Across Colfax, Jasper County, Iowa

When examining property taxes in Colfax, IA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Jasper County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Jasper County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Colfax. For example, the median home price in Colfax is $165,540, with tax bills ranging significantly across the county. ZIP code 50054 has the highest median home price at $165,540.

Property Tax Assessment Values Across Colfax, Jasper County, Iowa

Source: Ownwell

$87,620

$186,145

$284,670

Median Colfax Market Value

$165,540

Median Jasper County Market Value

$166,390

Median Iowa Market Value

$167,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Colfax, Jasper County, Iowa

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
50054	$61,662	$108,530	$165,540	$236,645	$332,404

Source: Ownwell

Property Tax Bills Across Colfax, Jasper County, Iowa

In Colfax, located in Jasper County, IA, property tax bills are determined based on the assessed value of a home, which is a percentage of the property's market value. The tax rate is applied to this assessed value, resulting in the property tax bill. Factors such as local government budgets, school funding, and community services can influence the tax rate. The median home price in Colfax is $165,540, and the property tax bill can vary significantly, with the 25th percentile at $1,766 and the 75th percentile at $3,452. Compared to the national median property tax bill of $2,400, Colfax homeowners may experience higher tax obligations.

Ownwell assists homeowners by providing expert property tax appeal services, potentially reducing their tax liabilities. Our team analyzes property assessments to ensure they are accurate and fair, identifying opportunities for savings. By appealing excessive assessments, Ownwell helps homeowners lower their property tax bills, offering financial relief and peace of mind.

Property Tax Bills Across Colfax, Jasper County, Iowa

Source: Ownwell

$906

$2,117

$3,327

Median Colfax Tax Bill

$2,558

Median Jasper County Tax Bill

$2,548

Median Iowa Tax Bill

$2,508

Median United States Tax Bill

$2,400

Property Tax Bills Across Colfax, Jasper County, Iowa

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
50054	$940	$1,766	$2,558	$3,452	$4,465

Source: Ownwell