51246 Property Tax Rate

Property owners in ZIP code 51246 (Rock Rapids, Iowa) pay a median of $2,452/year in property taxes on homes valued at $232,900. This translates to an effective tax rate of 1.05%, which is 18% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 51246 is approximately $204, which factors into escrow payments on mortgages. This ZIP code is located within Lyon County. This is $387 more than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 51246 has lower property taxes. ZIP codes with similar effective rates include 51052 (1.05%) and 50612 (1.05%).

In Rock Rapids, property taxes represent approximately 3.5% of the median household income of $69,320, providing context for the relative tax burden on homeowners in this area.

Iowa uses full market value assessment with no annual increase limit, so the Lyon County Assessor can adjust your tax bill each year based on property appreciation or revaluation. Homeowners with household income below $32,400 qualify for the Homestead Property Tax Credit (HPTC), which reduces taxes by up to $1,375 annually based on home value and income. Apply for the HPTC with the Lyon County Assessor within 60 days of closing to ensure you receive the credit for the current tax year.