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Tax Levy Calculation
How Taxes Are Calculated

Based on the budgets submitted by the various levying authorities, the Auditor's Office prepares and certifies the levy rates in the county. Budgets for each levying authority are based on its taxable valuation as well as levy limits established by the Code of Iowa. Levy rates are expressed in dollars and cents per $1,000 of taxable valuation.

Property taxes due during a fiscal year are based on the assessed property value as of January 1 of the preceding year, i.e. the assessments for January 1, 2015 (mailed in April of 2015) will be the basis for the taxes paid in September of 2016 and March 2017. For a detailed primer of local property tax, see the Iowa Legislative Services Agency Local Property Tax guide.

Assessed property was rolled back as follows:

Residential
Agricultural Land 
Agricultural Buildings 
Commercial 
Industrial 
Utilities* 
Railroads*
Multi-Residential
55.6259%
46.1068%
46.1068%
90.0000%
90.0000%
100.0000%
90.0000%
86.2500%

*assessment and taxable value determined by Iowa Dept. of Revenue

Property Tax Estimator Tool
You may use the property tax estimator tool to get an estimate of your property taxes based upon your tax authority (city, township), school districts, and tax exemption and credits.


        150,000
x      .556259
=        83,439
less      1,852
          81,587
x   .02915743
=          2,379
less         141.41    
=          2,238
            1,119
            1,119
Assessed value (100%)
Rollback (residential class)
Taxable value
Military exemption (if applicable)
Net taxable value
Levy rate divided by $1,000 (Roland/Roland-Story School)
Gross tax
Homestead credit (if applicable; $4,850 x .02967861 x 1.00)**
Property tax (rounded to nearest even dollar)
Due September 30, 2016
Due March 31, 2017

** Homestead Credit = [full homestead value ($4,850)] x [levy rate] x [% reimbursement by State (100% this year)]