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Is E 85 going to increse your property taxes ?

By
Real Estate Agent with NONE

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