Per Iowa Code (Ch.
331.510), the auditor is responsible for the
annual valuation report due to both the Department of Management
and the governing body of each taxing district by January 1 of each
year. The report contains the valuations used for determining the
levy rates necessary to fund the budgets of the taxing districts
for the following fiscal year.
Contact the appropriate auditor for the latest version
of a county’s
Department of Management maintains state-wide information
Rollback is the common name for
on the annual
growth of property assessments. First enacted by the State of Iowa
in 1977 to counter the effects of inflation, the current provisions
have been in place since the 1980 assessment year. Under the formula,
growth is limited to 4% annually (8% for utilities) as applied to
statewide aggregate property values. In addition, residential and
agricultural property values are linked; if annual growth in one
class outstrips that of the other, it may only increase at the lower
rate. In other words, if agricultural value grows by 2%, residential
property increases are limited to 2%. If agricultural land value
decreases, allowable growth for residential property is zero.
Each November, the Iowa
Department of Revenue certifies the limitation
percentages to the county auditors. The rollback percentage is multiplied
by the actual (assessed) value to obtain the value of the property
that is subject to taxation.
Percentages by Assessment Year