Boone County 2019 Property Assessments

2019 Property Assessments Mailed

The Boone County Assessor’s Office mailed just over 23,000 2019 assessment rolls Monday, April 1, 2019.

For the 4th year in a row, residential market values continue to increase in Boone County.  With the continued growth in market values, the Assessor must revalue properties in Boone County. The median ratio for 2018 was 90.5 in Boone County on 399 sales.  The proper assessment level is 100.  Residential assessments were increased by 8.89%, on average, across Boone County.

This year the Commercial market is experiencing growth, as well.  Commercial assessments have remained static in the previous 5 years leading up to 2018.  The median Commercial ratio for 2018 was 91.8 on 25 sales in Boone County.  The proper assessment level is 100.  Commercial assessments were increased by 7.3%, on average, across Boone County.  Multi-Residential (Apartments) were increased by 13.36% and Industrial increased by 5.93%.  The Assessor’s Office is directed to track market activity and adjust property values (revalue) every odd year, according to Iowa Code (441).

Agricultural land and out buildings (not dwellings) continued the decline that has been experienced in recent years.  Assessment of Agricultural land and buildings were reduced by approximately 27%.  Agricultural land is assessed based upon a rolling productive valuation for the previous 5 years.  For the current assessment, 2016 and 2017 income was added while 2011 and 2012 was removed.  The new income fell far short of the years that were removed, leading to the sizable reduction in assessment.  Agricultural assessments are based upon CSR II points and soil types.  The CSR II values were reduced from $26.00 to $18.75 per point for the 2019 assessment.

Please remember that your property assessment is not an indication of tax liability. It is an estimate of current market value based upon sales of real estate from the previous year (2018).  Tax liability is calculated by the respective levying authorities (i.e. county, school, city..) and applied to the rollback assessed valuation.

Property owners have the ability to protest their assessment before the Boone County Board of Review.  The typical filing dates for a protest are April 2 to April 30.  This year, due to Boone County receiving the designation as a National Disaster area by President Donald J Trump, the filing period has been extended until June 5th.  The informal filing period remains the same, April 2 to April 25.  Appeal forms are available in the Boone County Assessor Office or online at http://www.boonecounty.iowa.gov/government/assessor.

Please contact the Boone County Assessor at (515) 433-0508 if you have any questions.

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