Property Tax - Opinion - Commercial Sales 2006

From: Hyman, Dale [IDR]

Sent: Monday, April 02, 2007 10:41 AM

To: Iowa Assessors

Subject: 2006 Commercial Sales

Assessors:

Attached is a work sheet with tabs for an overview of commercial sales (Excel) ratios, a graph of ratios, and a listing of 2006 sales that we have coded good for analysis. There are still a few 2006 sales to be entered so it is not a complete listing. The regular paper listing will be sent in a few weeks with the standard letter and set time frame for requesting changes in sales listing. We also plan on delivering the appraisal results by early May. A casual analysis of the commercial sales indicates a statewide median of 88.8% with a good clustering of counties around the median. The residential sales median for 2006 is 92.2%.

Equalization is based on a combination of sales and appraisals so the appraisals may significantly change the median especially for those counties with fewer sales.

Dale Hyman, Administrator
Property Tax Division
Iowa Department of Revenue
dale.hyman@iowa.gov
515/281-3362

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