To enhance transparency in the property tax process, the Iowa General Assembly has enacted laws over the past two years that change how schools, counties, and cities set property tax rates. A key update requires county auditors to mail a statement to taxpayers by March 15, outlining proposed property tax rates.
Muscatine County Auditor Tibe Vander Linden confirmed that these statements were mailed last week and should now be in the hands of property owners.
These statements are not tax bills. Instead, they provide details on proposed budgets and tax rates for local taxing authorities, including school districts, counties, and cities (except for rural residents).
The statement includes:
- Current, effective, and proposed tax rates for each taxing district.
- Projected tax amounts based on these rates.
- An explanation if proposed tax levy dollars exceed the next fiscal year’s effective tax amount.
- Upcoming public hearings where taxpayers can voice their opinions before budgets and tax rates are finalized.
Each statement also illustrates the potential tax impact on $100,000 residential and commercial properties, showing how taxes would change under the proposed rates.
Factors Influencing Your Property Tax
Your total property tax bill depends on several factors, including:
- Assessed property value
- Residential or commercial rollback adjustments
- Approved tax rates
For the 2024-25 tax year, the residential rollback has slightly increased, meaning more of a property’s assessed value will be taxed. Additionally, many properties may have seen an increase in assessed valuation.
Stay Informed & Participate
Taxpayers are encouraged to review their statements and participate in public hearings, where they can provide oral or written feedback. Budgets may be reduced after hearings but cannot be increased.
A tool to estimate the impact of proposed tax rates on specific properties is available for download here. More information can be found online at the Iowa Department of Management’s website (https://dom.iowa.gov/property-taxes).
