DUE TO IMPLEMTATION OF THE IOWA DEPARTMENT OF REVENUE APPRAISAL MANUAL AND RISING PRICES IN THE REAL ESTATE MARKET, COMMERCIAL AND INDUSTRIAL PARCELS INCREASED AN AVERAGE OF 10%. RESIDENTIAL AND AG DWELLINGS INCREASED AN AVERAGE OF 15%. VALUE CHANGES MAY ALSO BE BE FROM NEW CONSTRUCTION, CHANGES OF CONDITION OR CLASSIFICATION AND DEMOLITION. PER CODE OF IOWA, ASSESSED VALUES ARE REQUIRED TO BE 100% FAIR MARKET VALUE. AGRICULTURAL LAND IS VALUED BY USING A PRODUCTIVITY FORMULA AVERAGED FROM THE PAST FIVE YEARS AND CSR2 SOIL RATES.
All real estate is assessed annually according to its condition January 1st. Please inofrm the assessor's office if any property has sustained damage that isn't repaired by January 1st. Also, all new construction should be reported. New construction isn't just a new structure. It also includes exterior and interior remodeling and basement finish.
There was a 7% decrease in agricultural land values for Hancock County from State Equalization Orders. The prior year's values reflect two entries for 2021 for agricultural land. The top figure is the current assessed value.
Credit and exemption applications are availabe on the Iowa Department of Revenue websit. Click on the following link. https://tax.iowa.gov/tax-credits-and-exemptions
The Iowa State Association of Assessors hosts a website with assessment information, board of review information and several links to pertinent websites. Click the link to access the website: https://www.iowa-assessors.org
The use of CSR2 and non-crop adjustments for agricultural land was implemented in the 2015 valuations.