51350 Property Tax Rate

Property owners in ZIP code 51350 (Melvin, Iowa) pay a median of $691/year in property taxes on homes valued at $81,000. This translates to an effective tax rate of 0.85%, which is 33% below the Iowa state average of 1.28%.

The monthly property tax burden for a median-valued home in 51350 is approximately $58, which factors into escrow payments on mortgages. This ZIP code is located within Osceola County. This is $1,374 less than the Iowa average of $2,065/year.

Compared to similar ZIP codes in Iowa, 51350 has higher property taxes. ZIP codes with similar effective rates include 51441 (0.85%) and 52760 (0.86%).

In Melvin, property taxes represent approximately 1.0% of the median household income of $72,708, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 51350, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Osceola County's tax assessor directly.