Assessor: Why Did My Assessed Value Change?

In Iowa, property is reassessed every two years (odd numbered.) The Assessor is continually doing market analysis of sales in their jurisdiction to determine the equitable assessments of property. Each real estate transaction occuring in the jurisdiction is recorded and sent to the Assessor for analysis.  During reassessment years, the previous years' sales are used to establish the market value of properties within the jurisdiction. The Iowa Department of Revenue also monitors these sales for equalization.   

The Assessor may also do a reappraisal of the entire county at once. This is a large project and requires several years of planning and budgeting, as well as on-site property inspections. Mahaska County's next reappraisal project will focus on residential and ag dwellings, and will begin in 2029; the newly established values will apply to the 2031 assessment year. More information about the project will be published closer to the date. Reappraisals result in up-to-date and accurate property records in the Assessor's Office, and create a more accurate assessed value for each property.

If a property owner reports changes to a property that result in a valuation change, such as additions to dwellings, demolition of buildings, etc, the Assessor must list those changes and determine the new valuation.  This is done annually and the owner will receive an updated assessment roll. You can report changes through the Beacon website or by contacting our office.

When values change, the Assessor will notify property owners of their new assessment with an assessment roll postmarked no later than April 1st of the year the assessment is effective for. When property values are equalized by the State resulting in an increase in valuation, the County Auditor will mail notices to the affected property owners in the fall of the equalization year. No notices are sent when the equalization order results in a downward change in value; however, a general notice will be posted in the local newspaper.

Here are some factors to consider when looking at your assessed value:

1. What did I pay for the property?
    
2. What would I sell the property for?
    
3. How much money have I spent improving the property?
    
4. Did I do any of the work myself, which results in lower construction costs but would not affect what I would ask for the property on the open market?
    
5. Am I questioning the assessed value, or my property tax bill?  Assessors do not determine your property tax.
    
6. Am I interested in learning about the assessment process in Iowa?
    
7. Have I visited the Assessor's Office recently, or used the Sales Search function on the Beacon website, to see what properties are currently selling for in Mahaska County?