TAX ALERT: Iowa Property Tax Protests Due
April 23, 2019
Iowa property taxes, often the largest line-item expense for a property, are about to experience a potentially significant upward change.
Iowa law requires that the assessed value of a property equal its fair market value as of the assessment date (January 1), with reassessments to occur every other year in odd-numbered years.
2019 is a reassessment year, and local assessors throughout Iowa have announced significant increases to assessed values for commercial, industrial, and multi-residential properties over 2017 values. While market values have generally increased during this two-year period, wide-ranging differences in property characteristics and conditions frequently do not match the assessor’s broad-brush changes to assessed values.
Property owners facing increases who wish to challenge their assessment have a short window of time to do so. In general, the due date for filing a protest with the local board of review is April 30. In counties that have been officially designated as a disaster areas due to flooding this spring, the due date for filing the protest is extended until June 5.