As a homeowner, paying property taxes is a necessary expense to maintain the value of your property. However, it can be frustrating when you feel like the assessment of your property is incorrect or too high. Fortunately, you have the right to appeal your property tax assessments. Here’s a step-by-step guide on how you can protest and appeal a property tax assessment in Iowa.
- Research the Market Value of Your Property
The first step in appealing a property tax assessment is to research the market value of your property. This can be done by looking at comparable properties online, talking with a real estate agent, or by hiring a professional appraiser. You can research homes for sale in Iowa by city on my website or use my local Iowa MLS search to find the most up to date listings and comparable properties available on the internet. Your research should show the estimated value of similar properties in your area, which you can use to compare with your assessment. Assessments are usually tied to fair market value. A home’s attributes, such number of rooms, square footage and type of property, are put into an automated valuation formula to figure out a final value. Ask your local assessor’s office for a detailed checklist and make sure it’s correct.
- Gather Supporting Evidence
Once you have determined that your property tax assessment is incorrect, you should gather supporting evidence to back up your claim. This can include photos of any repairs or renovations you have made to the property, as well as any recent home sales in your neighborhood.
- File an Appeal
In order to file an appeal, you will need to contact your local Iowa property tax assessor’s office and request a formal appeal hearing. Filing deadlines and procedures for an appeal should also be included on your property tax bill. You will be given a deadline to submit your appeal and any supporting evidence (such as a list of comparable properties.) Be sure to submit your appeal on time, as late submissions are usually not accepted.
- Attend the Appeal Hearing
At the appeal hearing, you will have the opportunity to present your case and any supporting evidence to a panel of assessors. Be prepared to discuss the market value of your property and any other factors that may impact its value. Sometimes you will not need to attend the hearing but often it is easier to plead your case that way so you can answer any concerns in the moment. It’s also a good idea to bring a copy of your property tax assessment and any supporting documents to the hearing.
- Wait for a Decision
Once the appeal hearing has concluded, the panel of assessors will make a decision. You will be notified of the outcome, and if your appeal is successful, your property tax assessment will be adjusted accordingly. If you need help, hire a local tax or real estate expert who specializes in tax assessment. If you win the appeal, the lower tax assessment should apply for a few years and will make the fee worthwhile.
Appealing a property tax assessment can be a time-consuming process, but it’s worth it if you feel that your assessment is incorrect. By researching the market value of your property, gathering supporting evidence, (and possibly attending a formal appeal hearing), you can ensure that your property tax assessment is fair and accurate.
I hope you found this helpful. Please feel free to call or text me at 515-229-5642 for more home and real estate insights or to answer any questions at all!
