Things to Remember

• Assessed value and taxable value are not synonymous terms.
• Property is assessed as of January 1st.
• Property is reassessed every two years.
• Taxes are levied on a value determined by the auditor by applying a "roll back" percentage to the assessed value and deducting any applicable exemptions or credits.  The "roll back" percentages vary each year.

On values determined as of January 1st, one does not start to pay taxes until eighteen months later.  The "roll back" is the percentage of actual value that is determined by the Director of Revenue each year on the several classes of property where the total value increase STATEWIDE, exceeds three percent for each class of property.  The percentage so determined by the Director of Revenue is certified to and applied by the local county auditor to all property in each class affected throughout the State.  Percentages determined by the Director of Revenue are the same for all the assessing jurisdictions in the State.
Increases in assessed value of individual parcels of property as determined by the assessor, may exceed three percent within a jurisdiction.  Agricultural property, except agricultural dwellings, are assessed on the basis of productivity and net earning capacity using a five-year crop average and capitalized at the rate set by the Legislature.  The rate is currently seven percent.  Tentative and final equalization orders are issued by the Director of Revenue in odd numbered years on or about August 15th, and October 1st respectively.  The orders are sent to the various county auditors who apply them to the classes of property affected, if any.

Assessors and members of the Board of Review are appointed to their terms of office. Assessors, in addition to completing the required 150 hours of Continuing Education, must be approved by a majority vote of the Conference Board in order to be reappointed.

If you desire further information, questions concerning PROPERTY VALUES or other information relating thereto should be addressed to the assessor's office in the respective jurisdiction and not the Board of Supervisors or Treasurer.

Questions relating to taxes should be addressed to the local county treasurer.

The assessors of Iowa hope that the information contained herein will be of value to the property owner and has clarified some of these problems and issues relating to assessment and the applicable laws.

If you need further information, please call or write your local assessor.

This information was prepared by the Public Relations Committee of the Iowa State Association of Assessors.