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, 2017 (mailed in April of 2017) will be the basis for the taxes paid in September of 2018 and March 2019. 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
55.6209%
Agricultural Land
54.4480%
Agricultural Buildings
54.4480%
Commercial
90.0000%
Industrial
90.0000%
Utilities*
100.0000%
Railroads*
90.0000%
Multi-Residential
78.7500%


*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. The example below is for a property located in the city of Roland and Roland-Story school district.


150,000
Assessed value (100%)
x
0.556209
Rollback (residential class)
=
83,431.35
Taxable value
less
1,852
Military exemption (if applicable)

81,579.35
Net taxable value
x
0.03208326
Levy rate divided by $1,000 (Roland/Roland-Story School)
=
2,617.33
Gross tax
less
155.60
Homestead credit (if applicable; $4,850 x 0.03208326 x 1.00)**
=
2,461.73 (rounds to 2,462)
Property tax (rounded to nearest dollar)

1,231
Due September 30, 2018

1,231
Due March 31, 2019


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