Substantial increases of assessed values

HOWARD COUNTY - Be prepared for increase in the assessment roll/notice for the Jan. 1, 2023 assessment.  

Every odd-numbered calendar year is known as an equalization year, and ALL property is subject to being revalued based on the economic shifts occurring since the last equalization assessment. 

Substantial increases of assessed valuations are happening across the entire state of Iowa.  Every odd-numbered year, Assessors are required to change assessed values to reflect 100% of market value.  The exception is agricultural property, which is assessed based on a five-year productivity formula from 2017 to 2021. The previous assessed value was based on the years 2015 to 2019. 

The values for Howard County were set by using data from the sales in 2022. As you may know, sales were at record highs in 2022. Therefore, every assessment value in Howard County has been affected. 

When considering your property’s assessed valuation, start by asking yourself two questions:

1. What is the actual market value of my property?

2. How does this value compare to similar properties in my area?

Property owners are encouraged to research their property’s market value by visiting www.howard.iowaassessors. com. This website offers comparable sales search and sale price information.

 Remember, assessed values are just the basis for which property taxes are calculated. Property tax laws, assessment limitations and local budgets determine the amount of property taxes you pay.  Therefore, it is unknown exactly how individual property taxes will be impacted with 2023 valuation changes until the assessment limitation and budgets (levy rate) are determined. 

If property owners disagree with the assessment of their property, their concerns can be raised to the Board of Review, the Assessor or both. 

The Assessor and Board of Review can only discuss the assessed valuation of your property. If you have evidence that your property is assessed for more than market value, you should file a petition with the Board of Review or request an informal review with the Assessor’s office. 

Petitions for a hearing with the Board of Review can be picked up in the Assessor’s office. Petitions must be filed from April 2-30. The Board of Review considers appeals during the month of May. Informal reviews with the Assessor’s office may be requested between April 2-25. 

If you have any questions, please contact the Howard County Assessor’s Office at  563-547-9201, extension 7.