Iowa— Property Tax & Closing Costs
2024 Census dataEffective tax rate
1.37%
of assessed value annually
Median home value
$120,200
2024 ACS survey
Median taxes paid
$1,645/yr
2024 data
Lucas County's 1.37% effective property tax rate ranks 501st highest among the 3,134 US counties tracked, placing it in the top 25% highest nationally. Within Iowa's 99 counties, it's the 36th highest. On the county's median home value of $120,200, the typical homeowner pays $1,645 annually in property tax — close to the national median of $1,629. At closing, Iowa's 0.16% combined real estate transfer tax adds roughly $192 on a median-priced home, typically paid by the seller.
Calculate your true cost
Enter any purchase price to see the full cost breakdown for Lucas County.
County median: $120,200
Leave at $0 if the property has no homeowners association.
LTV: 80.00%
At closing
Monthly ongoing
Year one
Moderate flood risk. Some neighborhoods require flood insurance — check your property at msc.fema.gov.
All figures are estimates for planning purposes only. Mortgage payment assumes a 30-year fixed rate of 6.8% — your lender will confirm the actual rate. Closing costs vary by lender and transaction. Consult a licensed real estate attorney and lender before making any financial decisions.
Iowa property tax exemptions
Ways buyers in Lucas County may reduce their annual property tax. These programs apply statewide; verify county specifics with your local assessor.
Homestead Tax Credit
Credit equal to the levy rate applied to $4,850 of taxable value for owner-occupied primary residences where the owner is an Iowa resident.
View official source →Senior Homestead Exemption (65+)
Starting assessment year 2024, homeowners age 65+ receive an additional $6,500 of taxable value exemption on their homestead.
View official source →Disabled Veteran Homestead Tax Credit
100% property tax credit on the homestead for veterans with 100% permanent service-connected disability (or individual unemployability paid at 100% rate) and surviving spouses.
View official source →Military Exemption
Honorably discharged veterans receive a $1,852 exemption on taxable value. Not stackable with the Disabled Veteran Homestead Tax Credit.
View official source →Last verified 2026-04. Exemption amounts and eligibility change frequently — always confirm with your county assessor before claiming.
Frequently asked questions
Answers to common questions about buying a home in Lucas County.
The effective property tax rate in Lucas County is 1.37% — calculated as the median annual property tax paid ($1,645) divided by the median home value ($120,200), using 2024 US Census ACS 5-year estimates. Your actual bill depends on your purchase price, homestead or senior exemptions, and any special assessments applied in your taxing district.
Iowa's combined real estate transfer tax is approximately 0.16% of the purchase price. On the median Lucas County home value of $120,200, this adds roughly $192 at closing. $0.80/$500 (0.16%) on consideration above $500 (first $500 exempt), seller pays. Uniform statewide per Iowa Code Chapter 428A; counties receive a share but rate does not vary.
Only in parts. About 5.3% of Lucas County's land area is within a FEMA Special Flood Hazard Area. Most homes are outside these zones, but worth verifying the specific address at msc.fema.gov.
Closing costs for a buyer in Lucas County typically run $2,404–$6,010 (2–5% of purchase price) on a median-priced home, including title insurance ($800–$2,000), appraisal ($400–$700), home inspection ($350–$600), recording fees ($100–$300), and loan origination (0.5–1.0% of the loan amount). Use the calculator above for a specific estimate at your purchase price.
Data sources for Lucas County
Every figure on this page is traceable. Verify the numbers yourself against the original public data.
Source for the 1.37% effective property tax rate, median home value, and median taxes paid (ACS 5-year, 2024 vintage).
Source for county-level flood zone exposure, wildfire risk, and other natural hazard ratings. Updated quarterly by FEMA.
Look up a specific property's flood zone and insurance rate map before making an offer on a home in Lucas County.
Guides for Iowa home buyers
What every buyer should read before making an offer.
HOA Documents
HOA lawsuits — how to check for pending litigation against your future HOA before you close
A buyer closed on a house and only then found out about ongoing HOA lawsuits. Six checks you can run yourself before your contingencies expire.
Read the guide →HOA Documents
Undisclosed HOA special assessment — what you can do if you find out after closing
HOA special assessment not on the disclosure? One buyer got a $15,000 bill the day after closing. How to catch it before — and what to do after.
Read the guide →