Abstract of Assessment and summarized the valuation data. The values reported on
the Abstracts of Assessment are one hundred percent (100%) of the actual value of
property as established by the assessors and approved by local boards of review.
This report also includes the 2014 100% values. The additions and deletions (i.e., new
construction, revaluation, transfers in classes of property) represent the change in
overall value from 2014 to 2015. Also, presented are 2015 assessment statistics for the
operating properties of certain public service companies which, according to Iowa law,
are assessed annually by the Iowa Department of Revenue.
Iowa law affecting the 2015 value of agricultural property, residential property,
including dwellings on agricultural land, multiresidential, commercial property, industrial
property and railroad property, provides that only a designated percentage of the value
of this property is subject to actual tax levy. For agricultural realty, the percentage was
46.1068%, residential realty, including dwellings on agricultural land, the percentage was
55.6259%, multiresidential, the percentage was 86.2500%, commercial, industrial and
railroad realty, the percentage was 90.0000%. Consequently, in reviewing the 2015 values
presented in this report for agricultural, residential, multiresidential, commercial, industrial,
and railroad property, the reported values are to be adjusted by the appropriate percentage
to determine the final 2015 values subject to tax. The values for all other classes of property
are 100% taxable values.
The taxes based upon the 2015 values are payable in the fiscal year commencing
July 1, 2016 and ending June 30, 2017.
Questions concerning this report may be directed to the Iowa Department of Revenue,
Property Tax Division, Hoover State Office Building, Des Moines, Iowa 50319.