Floyd County property valuations sent out end of February

To The Press

Floyd County property owners will begin to receive their latest property value assessments later this month.

The Floyd County Assessor’s office plans to mail the notices to property owners on Feb. 27. The notices are for values effective Jan. 1, 2020.

“The values should not be confused with taxable value or the tax bill,” said the Assessor’s Office in a news release.

“The notices are intended to inform the property owners of the estimated market value of their property,” the office said.

Vanguard Appraisals Inc. of Cedar Rapids was awarded the contract to reappraise residential, commercial, industrial, and multi-residential classes of property in the county. Company representatives have measured and attempted to inspect all property over the last two years.

A sales analysis and a review of the information collected were conducted before the values were finalized.

Property owners will have an opportunity to meet with a representative of Vanguard Appraisals beginning March 16. These meetings are an opportunity for the property owner to submit any information which may affect the estimate of market value of their property.

Property owners who wish to meet with a representative of Vanguard should call the Assessor’s Office before March 9, at 641-257-6152 between 8:30 a.m. and 4:30 p.m.

The last complete reappraisal of these properties was done for the Jan. 1, 2006, assessment date, the office said.

“The current reappraisal was conducted to equalize assessed values, since not all properties have decreased or increased at the same rate since 2006,” the Assessor’s Office said.

“Company representatives will not adjust the assessed values if the property owner objects to the new values based solely on the fact that there was an increase in assessed value,” the office said. “Property owners who disagree with the new values should be prepared to state their estimate of market value and present evidence to support that estimate.”

New notices will be mailed if values change prior to April 1.

Property owners will also have an opportunity to protest the new assessed values to the Board of Review. A written protest must be submitted between April 2 and April 30 for the Board of Review to consider any adjustment.