Spencer, IA — income, home value, property tax, and sales tax.
In ZIP code 51333, near Spencer, homes carry a median value of $195,600, and the county-level effective property tax rate of 1.15% works out to roughly $2,249 a year for a home at that price. With median household income at $110,833 and per-capita income at $55,984, that tax bill equals about 2% of a typical household's annual earnings. The combined sales tax rate is 7.00%. Home prices here stay below what the area's earnings might otherwise support, so property taxes absorb a contained share of income.
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