50466 Property Tax Rate

Property owners in ZIP code 50466 (Riceville, Iowa) pay a median of $1,775/year in property taxes on homes valued at $160,900. This translates to an effective tax rate of 1.10%, which is 14% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 50466 is approximately $148, which factors into escrow payments on mortgages. This ZIP code is located within Howard County. This is $290 less than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 50466 has higher property taxes. ZIP codes with similar effective rates include 51063 (1.10%) and 51542 (1.10%).

In Riceville, property taxes represent approximately 2.9% of the median household income of $60,833, 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. Howard County offers a Homestead Exemption that reduces assessed value for primary residences — contact the Howard 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.