50435 Property Tax Rate

Property owners in ZIP code 50435 (Floyd, Iowa) pay a median of $1,728/year in property taxes on homes valued at $148,400. This translates to an effective tax rate of 1.16%, which is 9% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50435 is approximately $144, which factors into escrow payments on mortgages. This ZIP code is located within Floyd County. This is $337 less than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50435 has lower property taxes. ZIP codes with similar effective rates include 50162 (1.17%) and 52647 (1.16%).

In Floyd, property taxes represent approximately 2.5% of the median household income of $68,194, 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. Floyd County offers a Homestead Exemption that reduces assessed value for primary residences — contact the Floyd 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.