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Managing Your Property

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Clark S.
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Iowa City: Notice of Assessed Value............to high !

Clark S.
Posted Mar 29 2023, 16:38

I have a property in Iowa City and the new assessed value is too high.

It's a 12 unit old building.

Does anybody know how to challenge it ?    Or hire somebody to challenge it ?

Thank you

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Nathan Gesner
Agent
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
Agent
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Mar 30 2023, 04:21
Quote from @Clark S.:

If you believe it's too high, contact the Assessor's office and tell them you want to challenge the valuation. They have a process and can explain it to you. It helps to be armed with some comparable properties and not just a gut feeling.

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Theresa Harris
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#2 House Hacking Contributor
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Theresa Harris
Pro Member
#2 House Hacking Contributor
Replied Mar 30 2023, 04:35

Read the assessment. The contact information and process to appeal the amount is listed in the paperwork.

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Jared Hottle
Pro Member
  • Real Estate Agent
  • Cedar falls IA Waterloo, IA
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Jared Hottle
Pro Member
  • Real Estate Agent
  • Cedar falls IA Waterloo, IA
Replied Mar 30 2023, 05:26

I am in Black Hawk county and look to challenge my assessed values each year. If their criteria is similar you can try to use comps and rental comps but I have found the shoe in for getting a lower value is looking for mistakes on the assessor site which happens a lot more than you would think. Everytime I get a property I comb through the assessor site and make sure it all matches up. In Black Hawk County you can challenge once a year and I believe it is in June.

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Replied Apr 5 2023, 18:50

Hello Clark,

I am in the Iowa City area, we own rentals ourselves and manage for clients and are well aware of the high tax assessments that were just released. Our management company is Pace Property management, we would be happy to have a conversation with you about how we may be able to assist you with the challenge.

I'll send you a private message.  Thanks

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Clark S.
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Clark S.
Replied Apr 5 2023, 20:00

Thank you everybody for the replies !

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Replied May 14 2023, 17:24

I'm in Buchanan County. The assements on my rentals went up on average of 23%. I challenged the most egregious one with a walkthrough YouTube video and it worked. Good luck!