50138 Property Tax Rate

Property owners in ZIP code 50138 (Knoxville, Iowa) pay a median of $2,422/year in property taxes on homes valued at $169,900. This translates to an effective tax rate of 1.43%, which is 12% above the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50138 is approximately $202, which factors into escrow payments on mortgages. This ZIP code is located within Marion County. This is $357 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50138 has higher property taxes. ZIP codes with similar effective rates include 52553 (1.43%) and 52315 (1.43%).

In Knoxville, property taxes represent approximately 3.2% of the median household income of $76,887, providing context for the relative tax burden on homeowners in this area.

Iowa does not cap property tax increases at purchase or reassessment; the Marion County Assessor will establish your property value at purchase price, and subsequent annual increases are not limited by state law. Marion County residents age 65+, disabled homeowners, and veterans may qualify for county-level exemptions—verify your eligibility directly with the Marion County Assessor. File your exemption claim with the Marion County Assessor by the January 1 deadline to ensure relief on your next tax bill.