State of Iowa Releases PropTax Rollback No’s

THE STATE OF IOWA HAS RELEASED ITS “ROLLBACK” NUMBERS FOR THIS YEAR AND THE TAXABLE VALUE FOR DES MOINES COUNTY’S RESIDENTIAL PROPERTY WILL BE 54.4 PERCENT.

THAT MEANS IF YOUR HOUSE IS ASSESSED AT 100-THOUSAND DOLLARS, IT’LL BE TAXED AS IF IT WAS WORTH 54-THOUSAND-400 DOLLARS, INSTEAD OF THE 52-THOUSAND-800 DOLLARS IT WAS TAXED AT LAST YEAR.

FOR AGRICULTURAL PROPERTY, THIS YEAR’S TAXABLE VALUE IS JUST UNDER 43.4 PERCENT. THAT’S A DECREASE FROM LAST YEAR’S LEVEL OF JUST UNDER 60 PERCENT. DES MOINES COUNTY BUDGET DIRECTOR CHERYL MCVEY SAYS THE CHANGE AMOUNTS TO ABOUT A 4-MILLION DOLLAR LOSS ON FARMLAND IN THE COUNTY.

THE TAXABLE VALUE FOR COMMERCIAL…INDUSTRIAL…AND RAILROAD PROPERTIES IS NOW 95 PERCENT OF ASSESSED VALUE, DUE TO A NEW STATE LAW. IT USED TO BE TAXED AT 100 PERCENT OF ASSESSED VALUE. (NEXT YEAR, IT’LL BE DROPPED TO 90 PERCENT.)

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