50436 Property Tax Rate

Property owners in ZIP code 50436 (Forest City, Iowa) pay a median of $2,299/year in property taxes on homes valued at $164,300. This translates to an effective tax rate of 1.40%, which is 10% above the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50436 is approximately $192, which factors into escrow payments on mortgages. This ZIP code is located within Winnebago County. This is $234 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50436 has higher property taxes. ZIP codes with similar effective rates include 51640 (1.40%) and 50029 (1.40%).

In Forest City, property taxes represent approximately 3.4% of the median household income of $68,600, 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. Winnebago County offers a Homestead Exemption that reduces assessed value for primary residences — contact the Winnebago 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.