50401 Property Tax Rate

Property owners in ZIP code 50401 (Mason City, Iowa) pay a median of $2,160/year in property taxes on homes valued at $134,100. This translates to an effective tax rate of 1.61%, which is 26% above the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50401 is approximately $180, which factors into escrow payments on mortgages. This ZIP code is located within Cerro Gordo County.

Compared to similar ZIP codes in Iowa, 50401 has lower property taxes. ZIP codes with similar effective rates include 50670 (1.61%) and 50211 (1.61%).

In Mason City, property taxes represent approximately 3.4% of the median household income of $63,807, providing context for the relative tax burden on homeowners in this area.

Iowa reassesses property at market value every four years during the general reassessment cycle; your purchase price triggers a new assessment that becomes the base for future valuations. Cerro Gordo County offers a Homestead Exemption that reduces assessed value for primary residences — contact the Cerro Gordo County Assessor's office to file immediately after closing. Request a copy of your assessment notice and note the appeal deadline, typically 30 days from the notice date, to challenge any overvaluation.