Property Tax Alert: Iowa

November 2006

The Iowa Department of Revenue has announced to county auditors the percentages of the 2006 actual value at which agricultural, residential, commercial, industrial, railroad, and utility properties in each assessing jurisdiction in each county are to be assessed for Iowa property taxes. The values determined by the application of these percentages constitute the taxable value of such properties for the fiscal year commencing July 1, 2006, and ending June 30, 2007, upon which property taxes will be levied in 2007 and payable in the fiscal year commencing July 1, 2007, and ending June 30, 2008. The text of the document can be accessed under the title "2006 Property Tax Assessment Limitations (Rollbacks)" on the Iowa Department of Revenue Web site at www.state.ia.us/tax/news/Updates.html.

Please contact Rash & Associates for more information.