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. Iowa law requires that all real property be reassessed every two years, which is currently odd years.
An on-going process of gathering and reviewing information, measuring and listing new construction and investigating sales of real estate is used to provide accurate and current values. After properties have been appraised, the values are analyzed to ensure accurate and equitable assessments. 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.
GENERAL MISCONCEPTIONS ABOUT THE ASSESSOR'S DUTIES
The Assessor does not:
- Collect taxes
- Calculate taxes
- Determine tax rates
- Set policy for the Board of Review