50248 Property Tax Rate

Property owners in ZIP code 50248 (Story City, Iowa) pay a median of $2,981/year in property taxes on homes valued at $218,500. This translates to an effective tax rate of 1.36%, which is 7% above the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50248 is approximately $248, which factors into escrow payments on mortgages. This ZIP code is located within Story County. This is $916 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50248 has lower property taxes. ZIP codes with similar effective rates include 52742 (1.36%) and 50431 (1.36%).

In Story City, property taxes represent approximately 3.4% of the median household income of $88,333, providing context for the relative tax burden on homeowners in this area.

Iowa does not cap property tax increases at purchase or reassessment; assessed values are set by county assessors and can rise annually without a homestead exemption floor at the state level. Story County may offer local exemptions for seniors, veterans, or disabled persons—contact the Story County Assessor to confirm eligibility and filing deadlines. Request an assessment review from the Story County Assessor within 30 days of receiving your property tax notice if you believe the valuation is excessive.