Government : Budget Statement Mailing

Property owners in Iowa will soon receive a new mailing which will contain information about the proposed property tax rates for the next fiscal year. Iowa Code 24.2A requires that a budget statement be mailed to property owners after March 20 of each year. The budget statement will include information regarding school, county, and city proposed tax rates as well as information about scheduled public hearings regarding the proposed tax rates. The budget statement will include the following information:

* * Date, time, and location of public hearings to consider proposed property tax rates for next fiscal year

* * Phone number and website (if applicable) for each associated taxing authority * * Current, effective, and proposed tax rate information

* * Comparison of current, effective, and proposed tax rates

* * How current taxes levied by the school, county and city are distributed

* * Comparison of how taxes would be distributed in the current and proposed budget years

This statement is NOT a property tax bill. Taxpayers owning property in more than one tax district may receive multiple statements. The budget statement does not include proposed property taxation for smaller taxing authorities, such as community college, assessor, township, or agricultural extension. Property owners with more than one property may receive multiple letters if those properties are taxed by different school districts, counties, or cities.

The statement will include information about the impact of the proposed property tax rates on both a $100,000 residential property and a $100,000 commercial property. The actual impact of the tax rates on the individual's property could be different that the examples in the statement, which do not include a change in the assessed value or assessment of limitation (rollback). This has been reduced from 54.6501 % to 46.3428% on residential and commercial property up to $150,000 in value.

Questions regarding statements may be directed to the levying entity or the county auditor. Additional information regarding the budget statement will be made available online at https://dom.iowa.gov/property-taxes on or after March 20, 2024