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 or equalization 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.
If you have any questions about the assessment of your property, please contact the Assessor's Office at any time.
What is an Equalization Order?
In odd numbered years, the Iowa Department of Revenue compares the Assessor's complete assessment roll, called an abstract, to a sales ratio study of properties sold within that county over the past year. All arms-length transactions are considered for this sales ratio study. If the assessment (by property class) is 5% or more above or below the sales ratio study's median value, the Department of Revenue will decrease or increase assessments to compensate for the difference. Equalization occurs on an entire class of property, not on an individual property. Residential, multi-residential and commercial classes of property are subject to an equalization orders, agricultural and industrial classes are not. Equalization occurs on an assessing jurisdiction basis, not on a statewide basis.