DUTIES OF THE ASSESSOR
The Assessor is charged with several administrative and statutory
duties. The primary duty and responsibility is to assess all
real property within the Assessor's jurisdiction except that
which is otherwise provided by law. This would include residential,
commercial, industrial and agricultural classes of property.
Real property is revalued every two years. The effective date of
the assessment is January first of each year. The Assessor determines
a full or partial value for all new construction and improvements
depending upon their state of completion as of that January first
date.
GENERAL MISCONCEPTIONS ABOUT THE ASSESSOR'S DUTIES
The Assessor DOES NOT:
Collect taxes
Calculate taxes
Determine tax rate
Set policy for the Board of Review
The Assessor is concerned with value, not taxes. Taxing jurisdictions
such as schools, cities and county, adopt budgets after public
hearings. This determines the tax levy, which is the rate of
taxation required to raise the money budgeted.
The taxes you pay are proportional to the value of your property compared
to the total value of property in your taxing district.
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ABOUT THE ASSESSOR
Assessors are appointed to their position by a Conference Board
consisting of the members of the Board of Supervisors, the Mayors
of all the incorporated cities, and a member of each school district
within the jurisdiction. A city with a population of 10,000 or
more may elect to have their own assessor. In cities having an
assessor the conference board shall consist of the members of
the city council, school board and county board of supervisors.
Assessors are required by law to pass a state examination and complete
a continuing education program consisting of 150 hours of formal
classroom instruction with 90 hours tested and a passing grade
of 70% attained. The latter requirement must be met in order for
the Assessor to be reappointed to the position every six years.
The Conference Board approves the Assessor's budget and after
a public hearing acts on adoption of the same. The Assessor is
limited, by statute, depending upon the value of the jurisdiction,
to a levy limitation for the budget.
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MARKET VALUE
Residential, commercial and industrial real property are assessed
at 100% market value. Market value of a property is an estimate
of the price that it would sell for on the open market on the
first day of January of the year of assessment. This is often
referred to as the "arms length transaction" or "willing
buyer/willing seller" concept. The Assessor must determine
the fair market value of real property. To do this, the Assessor
generally uses three approaches to value.
MARKET APPROACH
The first approach is to find properties that are comparable
to the subject property and that have recently sold. Local conditions
peculiar to the subject property are then considered. In order
to adjust for local conditions, the Assessor also uses sales
ratio studies to determine the general level of assessment in
a community. This method is generally referred to as the MARKET
APPROACH and is usually considered the most important in determining
the value of residential property.
COST APPROACH
The second approach to value is the COST APPROACH, which is an
estimate of how many dollars at current labor and material prices
it would take to replace a property with one similar to it. In
the event the improvement is not new, appropriate amounts of
depreciation and obsolescence are deducted from replacement value.
Value of the land is added to arrive at an estimate of total
property value.
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INCOME APPROACH
The INCOME APROACH is the third method used if the property produces
income. If the property is an income producing property, it could
be valued according to its ability to produce income under prudent
management; in other words, what another investor would give
for a property in order to gain its income. The income approach
is the most complex of the three approaches because of the research,
information and analysis necessary for an accurate estimate of
value. This method requires thorough knowledge of local and national
financial conditions, as well as any developmental trends in
the area of the subject property being appraised since errors
or inaccurate information can seriously affect the final estimate
of value.
Agricultural real property is assessed at 100% of productivity
and net earning capacity value. The Assessor considers the productivity
and net earning capacity of the property. Agricultural income
as reflected by production, prices, expenses, and various local
conditions is taken into account.
WHY VALUES CHANGE
After properties have been appraised, the values are analyzed to
ensure accurate and equitable assessments. Iowa law requires
that all real property be reassessed every two years. The current
law requires the reassessment to occur in odd numbered years.
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 property assessments.
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NOTIFICATION AND APPEAL
If you disagree with the Assessor's estimate of value, please
consider these
two questions:
What is the actual market value of my property?
How does the value compare to similar properties in the neighborhood?
If you have any questions about the assessment of your property,
please contact your assessor's office.
A written protest may be filed with the Board of Review which
is composed of either three members or five members from various
areas of the county who are familiar with local market conditions
and trends. The Board operates independently of the Assessor's
office and has the power to confirm or to adjust upward or
downward any assessment. An individual may petition to district
court if they are not satisfied with the Board of Review's
decision.
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IMPORTANT DATES
January 1
Effective date of current assessment
April 16 thru May 5
Protest of assessment period for filing with Board of Review
May 1 thru Adjournment
Board of Review meets each year
July 1
Signup deadline Homestead Tax Credit & Military Exemption
January to November 1
Signup period for Family Farm Tax Credit
October 16 thru October 25
Protest period for filing with Board of Review on properties
affected by changes in value as a result of Director of Revenue
and Finance Equalization Orders (odd numbered years only.)
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DOWNLOAD FORMS -
requires free Adobe Reader
Barn
and One Room School Exemption Application
Board Of Review Petition
Equilization Petition
Forest and Fruit Tree Reservation Application
Grain Tax Return
Historic
Property Rehab
Exemption Application
Impoundment Exemption Application
Industrial Tax Exemption Application
Mobile Home Park Shelter Exemption Application
Pollution
Control & Recycling Exemption Application
Recreational
Lake, Forest Cover, Rivers & Streams, Open Praire
Exemption
Tax Exemption Application
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LINKS
Iowa
Association of State Assessors
International Association of Assessing
Officers
Online Property Records
GIS Maps
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