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Iowa Property Tax

Iowa Property Tax is mainly a tax on real property, which consists of lands, structures, buildings and several other improvements. Mobile homes, paving and fences also come under the definition of real property in Iowa. The law of the state has divided the Iowa real property into five classes, which are Residential, Commercial, Agricultural, Industrial and Public Utilities or Railroad. The last of the group is subject to the state-level assessment.

Iowa Property Taxes

The Property Taxes in Iowa are a result of a series of events, which include budgets, property tax assessment, calculations of a county auditor, and above all the adherence of laws. It is the Iowa Department of Revenue that ensures the administration of Iowa Property Tax Laws in all these events. The entire process of property tax assessment and tax rate calculation takes about 18 months in the state of Iowa. Every real property owners are recommended to check their property tax records in order to avoid make timely payments.

Property Tax Assessment

In Iowa, all real property is assessed every two years, as per the law of the state. Railroads and public utilities, on the other hand, are assessed every year.

Moreover, it is the homeowners who are the biggest contributors in property tax collections in Iowa. About 47% of property taxes are generated from the homeowners. Next comes the segment of businesses and industry, which contribute 34% of the total collection. Farmers pay 16 percent while the other 3 percent is generated from utility companies and railroads.

Iowa Property Taxes by County

There are about 2,000 taxing authorities in Iowa, which collect property taxes for the upkeep of various public services. Counties, cities, townships and school districts are the most common taxing authorities. Some other authorities that can levy taxes are college districts, hospital districts,fire protection, sanitation districts etc.

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