We present a study of the dynamic magnetic properties of TiN-buffered epitaxial thin films of the Heusler alloy Fe$_{1.5}$CoGe. Thickness series annealed at different temperatures are prepared and the magnetic damping is measured, a lowest value of $alpha=2.18times 10^{-3}$ is obtained. The perpendicular magnetic anisotropy properties in Fe$_{1.5}$CoGe/MgO are also characterized. The evolution of the interfacial perpendicular anisotropy constant $K^{perp}_{rm S}$ with the annealing temperature is shown and compared with the widely used CoFeB/MgO interface. A large volume contribution to the perpendicular anisotropy of $(4.3pm0.5)times 10^{5}$ $rm J/m^3$ is also found, in contrast with vanishing bulk contribution in common Co- and Fe-based Heusler alloys.
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