Property assessments for 2023 have been processed and mailed to Taylor County property owners.
Iowa code requires residential property to be valued at market value in odd numbered years. This will be happening throughout the state for 2023. Almost all residential properties will see increases in value. These increases are part of a nationwide trend and represent the market change since Jan. 1, 2021, which means the change is over a two-year period. The market change is calculated using transactions made by buyers and sellers.
The average increase in valuation for residential property throughout the state is estimated to be around 22% – 25% or greater. This increase can vary by market, which could consist of your county, city, township, or neighborhood. In Taylor County, some areas could see valuation increases up to 40% or greater. This is a national trend that has been happening over the last three years.
We are hopeful this information will help our property owners to be prepared to understand the increases in assessments, and, more importantly, we want them to know that this does not mean their property taxes will increase by the same percentage as their assessments. The assessment limitation or rollback, when applied to the assessed value, has a calming effect on the percent of change in the taxable value of your property.
Taylor County residents who own property can contact the Taylor County Assessor’s Office with questions about their property assessment, or the Taylor County Auditor’s Office with questions on how their tax bill is calculated. The Taylor County Assessor’s Office can be reached by phone at 712-523-2444 or by email@example.com. The Taylor County Auditor can be reached by phone at 712-523-2280 or email firstname.lastname@example.org.