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1. My assessment has not changed, why have my property taxes increased?

• There are three major factors that determine your tax bill:
• Assessed value (determined by our office)
• Rollback (determined by the Iowa Department of Revenue)
• Levy rate (determined by local taxing bodies)
• Example of a very simplified version:

$200,000	(assessed value based on market value)
x 0.60	(rollback based on valuation changes throughout Iowa)
$120,000	(taxable value)
x 0.04000	(levy based on budgets of school, county, city, assessor, etc)
$4,800	(tax bill)

The rollback is the same for all properties of that class throughout the state

The taxable value is the value that your taxes are based on

The levy rate is a combination of the tax asking’s of the school, county, city or township, community college, assessor, and other entities whose area your property is located.

2. What does my property tax pay for?

What does my property tax pay for?

3. How does the Assessor determine the value of my property?

Depending on the classification of the property, the assessment is to represent the market value of the property unless otherwise provided by Iowa Code. Residential, agricultural dwellings, multi-residential, commercial, and industrial classed properties are to be assessed at market value. Changes in market value as indicated by research, sales ratio studies and analysis of local conditions as well as economic trends both in and outside the construction industry are used in determining your assessment.  Market value of a property is an estimate of the price that it would sell for on the open market on January 1st of the year of assessment. This is sometimes referred to as the ’arm’s length transaction’ or ’willing buyer/willing seller’ concept. Agricultural land and buildings are valued on productivity and net earning capacity.

4. What is classification?

• Real estate parcels are assigned a property classification by the assessor
• This classification is to be consistent with the primary use of the property
• There are currently five classifications of property in Iowa:
  • Residential
  • Commercial
  • Agricultural
  • Industrial
• Classification may not necessarily be the same as the zoning of the property
• Iowa Code Chapter 441.21

5. How does the Assessor determine Market Value?

• We use Mass Appraisal to determine your value
• We must be at or near market value and have similar properties of a class be equitable
• Our office begins with gathering data on the characteristics of your property
• This is done through an appraiser inspecting your property
• We use the state mandated Iowa Real Property Appraisal Manual to determine the replacement cost new of your building (Cost Approach to Value)
• The replacement cost new is what a property would be worth if it was newly constructed
• The market (sales of other properties) is studied to determine if the property or area needs an adjustment. 
• This is done by using statistical measures specific to that area
• Our approach to value is the Cost Approach adjusted to the Market
• We do not typically use the Income Approach to value, due to difficulty in getting income data from property owners
• Iowa Code Chapter 441.21

6. How often is my property reassessed?

• State law requires all properties to be reassessed every odd numbered year.
• If necessary, assessors may reassess property every year.
• Iowa Code Chapter 441.47

7. What do I do if I disagree with the assessed value of my property?

• The first step would be to contact our office to set up a review of your property
• Our assessment date is January 1^st of each year
• From April 2^nd to the 25^th we can come to an Informal Agreement with property owners
• Iowa Code Chapter 441.30
• April 2^nd through April 30^th is also the time frame for filing a Formal Petition to the Board of Review
• The April 30^th deadline may be extended to June 5^th if a disaster has been declared
• If we receive a petition early enough, we will try to turn it into an Informal Agreement
• Iowa Code Chapter 441.31

8. How do I appeal my assessment?

Visit our Board of Review page for information on appealing your assessment.

9. How is the Assessor appointed?

• The local assessor is appointed by a conference board to a six year term after Director of the Department of Revenue approval
• The conference board for the county assessor is comprised of the county supervisors, the mayors of incorporated towns in the county, and a school board member from each school district in the county.
• All assessors must have successfully passed required courses and the assessor exam given by the Department of Revenue.
• Each assessor must successfully complete 150 hours of formal continuing education in order to be eligible for reappointment.
• Iowa Code Chapter 441.6

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