Property assessments for 2023 will be mailed in the next couple of months in Linn County. Iowa code requires residential property to be valued at market value in odd numbered years. This will be happening throughout the state for 2023. Almost all residential properties will see increases in value. These increases are part of a nationwide trend and represent the market change since Jan. 1, 2021, which means the change is over a two-year period. The market change is calculated using transactions made by buyers and sellers.
“The average increase in valuation for residential property throughout the state is estimated to be around 22%. This increase will vary by market,” Linn County Assessor Jerry Witt said. “The market could be your county, city, township, or neighborhood. In Linn County, some areas could see valuation increases up to 40%. This is a national trend that has been happening over the last three years.”
The Linn County Assessor’s Office is mailing a newsletter this week to all property owners in Linn County outside of the City of Cedar Rapids city limits. (Property located within the City of Cedar Rapids is assessed by the Cedar Rapids City Assessor, not the Linn County Assessor’s Office.) The newsletter from the Linn County Assessor’s Office provides information about what property owners should expect to see when their assessments arrive in the mail in the next couple of months. The newsletter also explains how assessed value, the assessment limitation (rollback), and levy rates work together to calculate a property owner’s tax bill.
“We want residents to be prepared to see these increases in assessments, and, more importantly, we want them to know that this does not mean their property taxes will increase by the same percentage as their assessments,” Witt said. “The assessment limitation, when applied to the assessed value, has a calming effect on the percent of change in the taxable value.”
Linn County residents who own property or live outside the City of Cedar Rapids can contact the Linn County Assessor’s Office with questions about their property assessment or how their tax bill is calculated. The Linn County Assessor’s Office can be reached by phone at 319-892-5220 or by email. Residents who own property within the City of Cedar Rapids should contact the Cedar Rapids City Assessor with questions.
The Linn County Assessor’s Office has created two tutorial videos to help explain how property taxes are calculated and how the State rollback affects property taxes.
Watch Video 1: How Are My Property Taxes Figured?
Watch Video 2: How Does the State Rollback Affect My Property Taxes?