Common Questions
- Address
Changes
- How
can I change the address where my tax bill is mailed?
- The
procedure for changing the mailing addresses for
tax bills will vary from county to county. Contact
your county auditor or treasurer to
determine
what you need to do.
- Exemptions
and Credits
- What
is a Homestead Credit?
- The
Homestead Credit is a tax credit funded by the State
of Iowa for qualifying homeowners, and is generally
based on the first $4,850 of Net Taxable Value. In
the case of a Disabled Veteran Tax Credit, the value
of the Homestead Credit is increased to the entire
amount of the Taxable Value of the property.
- How
is the Homestead Credit calculated?
- The
Homestead Credit is calculated by dividing the
homestead credit value by 1,000 and multiplying
by the Consolidated Tax Levy Rate.
That amount may then be reduced by the county to the
same amount at which the State of Iowa has approved
funding.
- What is a real estate Military Exemption?
- Veterans
who served in active duty during certain periods
of time and who were honorably discharged are
eligible to receive a Military
Exemption on their property taxes. Pursuant to Iowa
law, the Military Exemption value is determined
by the dates the veteran served in
active duty. Values for most veterans are $1,852, or
$3,704 in the case of a husband and wife who
both qualify. The value for
World War I veterans is $2,778.
- How
is the Military Exemption calculated?
- The
Military Exemption value is subtracted
from the Taxable Value of a property
prior to the calculation of taxes. To know how
much your tax bill was reduced by the Military Exemption,
divide the value by 1,000 and multiply
the remainder by the Consolidated
Tax Levy Rate.
- How
do I apply or find out if I qualify for the
Homestead Credit or Military Exemption?
- Your
local assessor has forms that you need
to complete, sign, and file for the
Homestead Credit and/or Military Exemption.
That
office can also tell you the qualifications for each.
- Property
Value
- Does the local assessor set the value for all real estate property?
- No. Property owned by railroads and utility companies is valued
by the Iowa Department of Revenue and certified for taxation to
the county auditor.
- What is Taxable Value?
- Taxable Value is the value used to calculate taxes and on which
the tax askings of the various Levy Authorities are based.
- What
does it mean that 100% Actual Value is “equalized”?
- The
Iowa Department of Revenue imposes equalization orders in odd-numbered
years against each property class for
each local assessor.
Sometimes called “the assessor’s report card”,
the equalization order is used to increase or decrease 100% Actual
Values when those values are not sufficiently accurate.
- How
does the Iowa Department of Revenue know when a local assessor’s
100% Actual Values are not sufficiently accurate?
- The
Department receives a copy of the Declaration of Value required
to be filed with the county recorder when real
estate is sold.
Actual sales values are then compared to the local assessor’s
100% Actual Values.
- Tax
Payments
- Where
do my taxes go?
- Your taxes are apportioned by the county treasurer to Levy Authorities
such as the school district, city or township, and county in which
your real estate parcel is located. If your property is in a Tax
Increment Financing (TIF) Area, most of your taxes are probably
apportioned to a TIF Authority, such as a city. You can see the
distribution of your taxes on your tax bill.
- What is a Levy Authority?
- A Levy Authority is a governmental entity with statutory authority
to levy property taxes. These entities include counties, cities,
school districts, townships, community colleges, local assessors,
and others.
- Do railroads and utility companies pay real estate taxes?
- Yes,
except that utilities defined as gas & electric
utilities pay excise taxes. Railroad and utility values are included
in the
tax base for the respective Levy Authorities, and both real estate
and excise taxes are paid to those Levy Authorities.
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