Iowa Property Tax

From: Hyman, Dale [IDR]
Sent: Friday, October 19, 2007 4:19 PM
To: IA-County-Assessors
Subject: section 42

Assessors:

We have had inquiries concerning equalization order board of review protest on section 42 properties. We think that our equalization order should not have included section 42 properties since their value is based on actual income and are not market value assessments. The Department of Revenue recommends that the equalization orders be removed from section 42 properties that have been protested. However an additional procedure will have to be used for the section 42 properties that do not file a timely protest since the powers of the fall session of the board of review do not include acting upon properties that have not been protested; Iowa Code 441.49  ….The board of review shall limit its review to only the timely filed protests….  There is a provision in 421.17 (10) that enable the director to correct obvious errors or injustices on an individual property upon the recommendation of the board of review. Counties that have received equalization orders on section 42 properties may recommend the equalization orders be removed to the director and he will order a correction to the 2007 equalized assessment. Recommendations for a correction should be made to:

Mark Schuling, Director of Revenue
Hoover State Office Bldg.
1305 East Walnut
Des Moines , IA. 50319

Our next set of equalization order will except section 42 properties.   

Sincerely,

Dale Hyman, Administrator
Property Tax Division
Iowa Department of Revenue

dale.hyman@iowa.gov

515/281-3362