There can be a number of different taxing districts within a township or town, each with a different levy.

Based on the budgets submitted by the various levying authorities, the Auditor's Office prepares and certifies the levy rates in the county. Budgets for each levying authority are based on its taxable valuation as well as levy limits established by the Code of Iowa. Levy rates are expressed in dollars and cents per $1,000 of taxable valuation.

The Assessor determines the assessed value of a property. The County Auditor calculates the taxable value of a property after applying state ordered "rollback" percentages to the assessed value of the various classes of property. Both the assessed value and taxable value of a property appear on the tax statement.

Rollback is the common name for statewide limitations on the annual growth of property assessments. Each November, the Iowa Department of Revenue certifies the limitation percentages to the County Auditor. The roll back percentage is multiplied by the actual (assessed) value to obtain the value of the property that is subject to taxation (taxable value).

Things to Remember

• Assessed value and taxable value are not synonymous terms.
• Property is assessed as of January First.
• Property reassessed every two years.
• Taxes are levied on a taxable value which is determined by the County Auditor by applying a "roll back" percentage to the assessed value and deducting any applicable exemptions or credits.  The "roll back" percentages vary each year.

Example 2011:		(Tax payable this year, Fall 2011)		Example 2010:		(Tax payable last year, Fall 2010)
$100,000		2010 Assessed value (residential class)		$100,000		2009 Assessed value (residential class)
x 0.485299		2010 residential roll back		x 0.469094		2009 residential roll back
48,530		roll back value (taxable)		46,909		roll back value (taxable)
-3,055		Homestead Credit (funded 63%)		-  3,104		Homestead Credit (funded 64%)
45,475		net taxable value		43,805		net taxable value
x .04496049		levy $44.96049 per thousand (varies with taxing district)		x .04496564		levy $44.96564 per thousand (varies with taxing district)
$2,045		property tax (rounded to nearest even whole dollar)		$1,970		property tax (rounded to nearest even whole dollar)

As shown above, the residential roll back factor for taxes payable in Fall 2011 is 0.485299.
There is no commercial roll back this year -- that is, the factor is 1.000000.
For agricultural land and outbuildings, the roll back factor is 0.690152.