Worth County Assessor
2024 ASSESSMENT INFORMATION: UNDERSTANDING YOUR ASSESSMENT
“Why am I receiving an assessment notice?”
Iowa law requires all property to be revalued every two years to reflect changes in the real estate market. The 2024 assessed value represents the value of the property and buildings as of January 1, 2024.
Valuations are set by market value
The Worth County Assessor’s Office tracks all sales in the County to determine market trends. Market values and current construction costs are used in determining assessments for Residential, Commercial and Industrial Properties. Agricultural land and buildings are NOT valued at market value. Agricultural assessments are determined by the State of Iowa using a productivity formula and Corn Suitability Ratings (CSR2’s).
Sales information is sent to the Iowa Department of Revenue (IDR) every year. If the Assessor does not increase or decrease property values as indicated by the market, then the IDR will make these changes by issuing an equalization order in an odd year. Equalization orders are given countywide, in lump percentages straight across the board.
Property owner’s who disagree with the assessor’s estimate of market value should ask themselves, “Could I sell this property for that amount today?”
If the answer is yes, then the value is probably correct. Every property owner has the right to appeal an assessment. The informal assessment review period within the Assessor’s Office is between April 2nd and April 25th. Board of Review Petitions may be submitted April 2nd through April 30th. Please contact the Assessor’s office for additional information at 641-324-1198.
ASSESSOR PRESS RELEASE: May 24, 2023
Homestead tax exemption for claimants 65 years of age or older.
On May 4, 2023, Governor Reynolds signed House File 718, establishing a homestead tax exemption for claimants 65 years of age or older.
In addition to the original homestead tax credit, eligible claimants who own the home they live in and are 65 years of age or older on or before January 1 of the assessment year are now eligible for a homestead tax exemption. For the assessment year beginning on January 1, 2023, the exemption is for $3,250 of taxable value. For assessment years beginning on or after January 1, 2024, the exemption is for $6,500 of taxable value. An exemption is a reduction in the taxable value of the property rather than a direct reduction in the amount of property tax you pay.
The Iowa Department of Revenue has amended the original Homestead Tax Credit and Exemption (54-028) form to allow claimants to apply for the new exemption. Applications are due July 1 to your local assessor. If the exemption is granted, the exemption will be allowed for future years without future filing as long as the claimant continues to qualify.
Application forms can be found at the Assessor’s office in the Northwood courthouse.
Please contact us by phone at 641-324-1198 or by email: assessor@worth.county.org if you have any questions.
The deadline to apply for the current year is July 1, 2024.
