Buena Vista County Assessor S Office
BUENA VISTA COUNTY ASSESSOR’S OFFICE
P.O. Box 148/215 E 5th St./Storm Lake, IA 50588
Office: 712-749-2543/Email:
Website:
KATHY A. CROKER / Assessor
KIM M. CARNINE / Chief Deputy Assessor
MATT BROSTAD / Deputy Assessor
CAROL VAN HOOSER / Real Estate Specialist
KAY EVANS / Office Assistant
Frequently Asked Questions about 2017 Assessments
Q: Why was my property reassessed?
A: Iowa law requires assessors to revalue property every odd-numbered year
(ie: 2013, 2015, 2017). The assessor’s primary responsibility is to estimate the fair market value of real property. Previous year sales are used to estimate the market value of all classes of property, except for agricultural classed property which is based on its productivity.
Q: How is the assessment level determined or measured?
A: The Iowa Department of Revenue (IDR) tracks the selling price and assessed value on properties that have sold. They determine a sales ratio on each sold property, and when combined with other sales, it shows the assessment level within the jurisdiction. A property with a $100,000 sale price and $90,000 assessment would have a 90% sales ratio. Iowa law requires the assessment level on each class of property to be between 95% and 105% in every jurisdiction. Valuation adjustments (equalization order) will be issued if the IDR determines the assessment level is outside those parameters.
Q: How can my value change when I didn’t make any changes to my property?
A: Previous year sales are used in arriving at your assessment. Even though nothing physically changed on the property, market forces are still affecting the value of properties.
Q: It feels like my taxes go up every year, how can that be?
A: Estimating a market value (assessed value) is the first step in the calculation of the property tax amount. There are two additional factors that come into play before actual tax amounts are determined. They are the Rollback Factor and the Levy Rate. Both of these come from outside of this office and can affect your tax bill amount even if your assessed value does not change. This office is tasked with the assessment portion only and our focus is on setting a fair and accurate market value. The rollback is set in November by the Iowa Department of Revenue. The levy rate will be set by cities, county, and school districts early next year after they hold budget hearings and determine revenue needs.
Q: But I just bought my home for less than it is assessed? Isn’t that the market value?
A: Market value is the most likely sales price of your property in your area. That might be the sale price, but that doesn’t automatically set the market value. The market value is determined by looking at a group of similar properties and using the information from the group to estimate a market value. Individual sale prices can have an overly motivated buyer or seller, or other factors which can affect the selling price. By looking at multiple sales to estimate market value, a more accurate estimate of value can be determined.
Q: I disagree with your opinion of my property’s value, what options do I have?
A: You have two options, an informal review with assessor’s office staff, or filing a formal appeal with the Board of Review. A request for an informal review needs to be done between April 2 and April 25. Formal appeals to the Board of Review need to be completed between April 2 and April 30. With either option, you’ll need to gather information that supports your opinion of value. Anything that sheds light on what the market value might be is helpful. Comparable sale information is the most helpful. You can research selling prices and property information on our website
Q: What is the difference between a formal protest and informal review?
A: Like the name implies, an informal review is a dialog between you and our office, where the various items that affect value are discussed and shared. If we can agree to a different value, we’ll both sign an agreement that will allow us to make changes to the value. A formal protest involves filling out a petition form to the Board of Review. The Board of Review is an independent 5 person panel that meets during the month of May to hear assessment appeals.
Q: I want to go the formal protest route. Where can I get the form, and where do I return it?
A: You can pick up a form in the assessor’s office or print your own by visiting the website at:
Either way the form must be returned to the assessor’s office by April 30th.