2025 Tax Year Assessment Notices have been mailed.
Residential & Commercial properties & Ag Dwelling values are based on Sale prices during 2023 & 2024
When you receive yours, please review the new values.
If you have any questions regarding the new values:
Did I make any changes to MY property in the last two years? (New building, addition, deck, inground pool, etc.)
Would I sell my property for the new assessed value?
Ag land properties – Values are based on Productivity factors on a rolling five-year average of cash corn & soybean sales: two low years fell off; two high years came on
If after thinking about these questions and you would still like to discuss your new value, please give our office a call at:
The mission of the Jackson County Assessor’s Office is to provide fair and equitable property assessments to all property owners and residents of Jackson County, in accordance with the laws and codes of the State of Iowa.
Market value of a property is an estimate of the price that it would sell for on the open market on January 1 of the year of assessment. This is sometimes referred to as the “arms-length transaction” or “willing buyer/willing seller” concept.
Market value is defined as the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
Buyer and seller are typically motivated;
Both parties are well informed or well advised and both acting in what they consider their own best interest;
A reasonable time is allowed for exposure in the open market;
Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and
The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
The Assessor generally uses three approaches, Market Approach, Cost Approach, and Income Approach.
Market Approach
Market approach is to find properties that are comparable to yours that have sold recently. Local conditions peculiar to your property are taken into consideration. The assessor also uses sales ratio studies to determine the general level of assessment in a community, in order to adjust for local conditions.
Cost Approach
Cost approach is an estimate of how many dollars at current labor and material prices it would take to replace your property with one similar to it. In the event improvement is not new appropriate amounts for depreciation and obsolescence would be deducted from replacement value. Value of the land then would be added to arrive at the total estimate of value.
Income Approach
Income approach is used if your property produces income such as an apartment or office building. In that case, your property could be valued according to its ability to produce income under prudent management; in other words, what another investor would give for a property in order to gain its income. The income approach is the most complex of the three approaches because of the research, information, and analysis necessary for an accurate estimate of value. This method requires thorough knowledge of local and national financial conditions, as well as any developmental trends in the area of the subject property being appraised since errors or inaccurate information can seriously affect the final estimate of value.
State law requires that all real property be reassessed every two years. The current law requires the reassessment to occur in odd numbered years. Changes in market value as indicated by research, sales ratio studies and analysis of local conditions as well as economic trends both in and outside the construction industry are used in determining your assessment.
If you disagree with the assessor’s estimate of value, please consider these two questions before proceeding, as outlined below:
What is the actual market value of my property?
How does the value compare to the similar properties in the neighborhood?
If you have any questions about the assessment of your property, feel free to come in and discuss it with the assessor.
You may file a written protest with the Board of Review, which is composed of three or five members from various areas of the assessing jurisdiction. The Board operates independently of the assessor’s office, and has the power to confirm or to adjust either upward or downward any assessment.
If you are not satisfied with the decision of the Board of Review you may appeal to the property assessment appeal board or to the district court within twenty days after adjournment of said Board, or twenty days after May 31st whichever is latest.
