The use of the ethanol blend of gasoline known as e-85 has increased 200%. Ethanol is made from corn in Iowa. The due to the demand for e-85 corn prices have gone up.
In reading The City Of Des Moines 2006 performance report I read "In Iowa, the price of corn is one of the primary variables used in calculating the taxable value of residential property" That is intresting to hear.
Assessed Value: Is the value of a property for the purpose of taxation. The adverage assessed value in the city of Des Moines is $89,530. That value is then reduced by the state property tax roll back of 52% Meaning tax is calculated on less then half of the property value.
The the assessed value of assessed residential property in Des Moines is $6.75 Billion