2011 Assessment Limitations Order (Rollback)

October 26, 2011
For immediate release

Contact: Victoria L. Daniels, Public Information Officer, Iowa Department of Revenue;
515-281-8450, Victoria.Daniels@Iowa.gov

Today the Iowa Department of Revenue issued an Assessment Limitations Order, or “rollback,” on property values in Iowa.  The Order adjusts the property values used by local governments to compute property taxes for agricultural, residential, commercial, and industrial property.   State law allows no more than a four percent (4%) increase in taxable values for these property classes from year to year in order to cushion the impact of inflation. The Order sets forth the following taxable values:

County auditors will apply the adjustments to each property class to compute the taxable values used for property taxes. Tax liabilities based on the 2011 taxable values and payable in fiscal year 2012-13 will not be determined until local taxing bodies establish their property tax needs early next year.

Additional information about the rollback can be found at: http://www.state.ia.us/tax/locgov/propequalroll.html