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

Show All Answers

1. My assessment has not changed, why have my property taxes increased?
2. What does my property tax pay for?
3. How does the Assessor determine the value of my property?
4. What is classification?
5. How does the Assessor determine Market Value?
6. How often is my property reassessed?
7. What do I do if I disagree with the assessed value of my property?
8. How do I appeal my assessment?
9. How is the Assessor appointed?