CLINTON — Property owners of agricultural land and DeWitt residences will experience increases in the assessed value of their property for the 2013 assessment year.
Clinton County will see an overall increase of almost 54 percent for agricultural land and buildings, according to County Assessor Roland Ehm. He told the Board of Supervisors on Monday that agriculture assessed values are increasing across Iowa, as calculated by the Iowa Department of Revenue. The state average is at 41 percent increase.
While the assessed value is increasing 53.86 percent, the impact on tax bills will be significantly lower due to the rollback factor calculated by the Iowa Department of Revenue. Ehm said it is estimated the rollback factor will be 45 percent for farm land and buildings. This would set the taxable value for the 2013 assessment on these properties at an 18 percent increase.
“Meaning that it brings the value of the land in to play, but yet it’s not so bad that you’re going to have to sell your farm to pay your taxes,” Supervisor Jill Davisson said.
Ehm told the board it might want to look at the total taxes levied next year during budget time and try to drop the tax rates so that it even has less of an impact.
The county will also see an increase in DeWitt residential property. By state guidelines, assessed values are supposed to average between 95 and 100 percent of market value. Ehm said the county-wide average is approximately 94 percent, with many of the small communities and Camanche being at slightly more than 100 percent.
The assessed value of DeWitt properties are currently 90 percent of market value. Ehm said if he did not change DeWitt’s assessed value, every residential property outside city limits of Clinton would be increased 6 percent, including farm houses. He added this would make the value for Camanche and the other small towns too high. Instead, DeWitt residential properties will increase by nine percent in assessed value.
Ehm stressed these changes will not be on a person’s tax bill until August 2014. He does plan to send notices of the increase to DeWitt residential property owners.