Every odd year home value assessments are done and they have been on the rise over the last 4 years. This year values went up 7.5% on average throughout Polk County. This is good news showing our strong housing market and increase in demand to live in Des Moines and surrounding areas. However, it’s bad news for your pocketbook because a higher assessment means higher taxes you have to pay.
I promise you nobody will complain about the lower assessed value if you sell in the future. Nobody wants to pay more in taxes and the assessed value is not a direct correlation to the current market value you would list your home for.
While it’s definitely not a guarantee, I always suggest you take the time to appeal your assessed value. Remember that taxes in Iowa are a year in arrears so any increase wouldn’t take place for about 18 months. The worst they can do is say “no” and if you don’t ask, you’ll never know! You will need to have some comparable home sales to show your reasoning. If you need help doing that, just reach out and I can try to find them for you. You can also search “comparable sales” from the assessors website. If we can’t find any comps that sold for less, be prepared to lose your request! Even if you have solid comps, it’s not a guarantee. The reality of our market is home values are rising. While of course nobody wants to pay higher taxes, it’s hard to argue against the higher value if you just bought or sold for a similar price.
Learn more about the process to appeal your assessment HERE Live in Polk County? Find specific information HERE Live in Dallas County? Find specific information HERE
April 30th is the deadline to submit your appeal so don’t put this off it’s something you want to try!
Comentários