Par Shawn M. King
For the first time since the pandemic, Iowa will be conducting its biennial reassessment across the state. The experts at Ryan are anticipating a 20% statewide multifamily increase, with the most significant increase in Polk County. Des Moines could see an average of a 23% increase, with the largest impact on residential, multifamily, and industrial property owners:
- 18% overall commercial real estate
- 20% industrial
- 23% multifamily/residential
- hotels to return to around 90% of 2019 values
Notices of value will be released April 1, with an appeal deadline of April 30. Property owners who disagree with their property assessments may file a protest with the Board of Review on or after April 2, up to and including April 30, of the year of the assessment. Hearings will be held through early June.
The 2023 valuations will increase for many property owners. To minimize your property tax exposure, it is critical that all assessments are reviewed. The local Iowa experts at Ryan have a proven history in assisting clients with tax savings. Contact us today.
TECHNICAL INFORMATION CONTACTS:
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at firstname.lastname@example.org.
- Shawn M. King