More about your 2017 assessment notices

The Boone County Assessor’s office mailed the 2017 assessment notices Monday, April 3, 2017.

The assessed values should not be confused with taxable value or the tax bill. The assessed values are an estimate of market value based on sales transactions in the previous year (2016). Assessment notices are used to inform the property owners of the estimated market value of their property, except for agricultural valuations. Agricultural values are based on a rolling five year productive value utilizing agricultural income from the preceding five years.  2009 and 2010 income and expense were removed while 2014 and 2015 were included in the calculation of the 2017 agricultural valuations.

This has been a very busy year for the Boone County Assessor office.  The office has physically reviewed and revalued all improved residential and agricultural building parcels in the townships west of the Des Moines River, this year (2016). A rural review has not been completed since the mid-1990’s on houses and has never been done on agricultural buildings.  

The Assessor’s office has mailed out over twenty-two thousand assessment rolls. The majority of the notices dealt with the change of value on agricultural land and agricultural buildings.  We decreased agricultural land values by an average of 9% and agricultural buildings by 25%. The value decrease was derived from information provided by the Iowa Department of Revenue. In 2013 the Boone County Assessor implemented the Land Use factor, as directed by the Iowa Department of Revenue. Part of the order was to utilize CSR II as the basis for calculating soil type values. Counties were to implement these valuations methods by the 2017 assessment. Boone County Agricultural land is now assessed utilizing CSR II and the Land Use layer. The price per CSR point has been reduced from $30.50 to $26.00. Please keep in mind that with the change in updated soil types, some parcels may actually increase.

Read more in the April 12 issue of The Ogden Reporter.