(This message is posted, in its entirety,  on the Website of the Polk County Assessor, which can be found here).   Please note, this is for 2007!!!   The new notice was not yet posted, as of March 12, 2009.  I'll add it here just as soon as it is available -- probably around April 1, 2009.

Iowa, and Polk County in particular, have not experienced the decline in housing values anywhere near as dramatically as many other parts of the country.  While sluggish, the local economy is going though a period of correction in values, not a depression (of course, tell that to the guy who just lost his job and is losing his house to foreclosure.  To him, we're definitely in a depression).   Anyhow, here is the article from our very talented Polk County Assessor, who spoke recently at one of our Two Rivers REIA of Central Iowa meetings, along with LaRayne Riccadonna. 

--------- Here is Jim Maloney's Message ------ Stay tuned for updates Around April 1! --------

Iowa has a biennial assessment system, and wholesale changes are normally made only in the odd number years. This is another one of those years.

For all properties except agricultural, we are required to assess property as of January 1st at its fair market value. The rolls mailed out on April 12th represent our best efforts to do that. The number and amount of increases this year surely surprise a lot of people. The press accounts of the falling real estate values across the nation have many believing the residential market has gone completely south.

It has trended down in Polk County, but only in the last five months of 2006, and only about 3% according to our statistical studies. And, since we set new assessments every two years, we have to look at the over all trends for the two year period which includes 2005 as well as 2006. And the net increase in residential values for that two year period is up about 6.9%.

Average per acre agricultural assessments went up but about 23%. Agricultural assessments are based a five year rolling average of crop prices and yields according to a formula mandated by state law. We had to drop a couple years when prices and yields weren't so good and added two more that were much better. Average values of farm land in 2007 will still be below what they were in 2003.

There is also a message from Rod Hervey, ICA, explaining our approach to commercial assessments , and Randy Ripperger, CAE, ICA explaining our valuation model for residential assessments . Also, there is a discussion by Jim Willet, RES, ICA, of the results of the 2007 Residential Revaluation .

We also have a number of other very talented and dedicated individuals that I am privileged to work with in this office. I think we can be justly proud of the work we have done and the efforts we've made to make the information we use in our assessment process available to the public. We also recognize that our models and the data available are not perfect, and expect we always learn more as we go through the protest period with the Board of Review.

We invite those who wish to check out their assessments on the internet. This year we are including a protest form with the assessment roll. After doing the research those who believe their assessment is incorrect should file a protest, but we want to discourage filing unless there is some reasonable basis to support it. Just because one thinks their taxes are too high isn't enough, by itself, to justify filing a protest. Frivolous protests will clog up our system and take time and attention away from those that really need it.

Those who do not have internet access are welcome to come to this office for assistance. We will do our best to be helpful.

Written by Jim Maloney, Polk County, Iowa - Assessor