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Levies And Assessed Values

Ringgold County | Recent Changes

Tax Levies and Assessed Values

Things to Remember

Assessed value and taxable value are not synonymous terms. Property is assessed as of January First. Property is reassessed every two years. Taxes are levied on a value determined by the auditor by applying a "roll back" percentage to the assessed value and deducting any applicable exemptions or credits.

The "roll back" percentages vary each year.

Example Residential

$100,000 2014 Assessed value
x 0.557335 rollback percentage (2014) (last year roll back 0.5440)
55,734 Taxable value
-3,928 Homestead Credit (81% funded level of $4850)
51,806 net taxable value
x 0.03433851 levy $34.33851 per thousand (varies with taxing district)
$1,778 property tax (rounded to nearest even whole dollar)

Example commercial

Commercial properties are calculated similar to residential. The major difference between the two classes is that commercial rollback has been zero
until 2013 when the State of Iowa implemented commercial rollbacks which will be 95% for 2013, 90% for 2014 and future years.

$100,000 Assessed value commercial property
x 0.9000 rollback percentage (2014)
$90,000 taxable value
x 0.03433851 levy $34.33851 per thousand (varies with taxing district)
$3,090 property tax (rounded to nearest even whole dollar)
Subject to Business Property Tax Credit

Example agricultural

The assessed value of agricultural property is not market value as per state law. It is assessed on productivity which is based off of a 5 year income statement of Ringgold County capitalized at 7% as per state law. The value is prorated between parcels based on CSR ratings, "soil type", & use of the land (crop or non-crop) of each parcel.
45.47 Average CSR as determined by soil survey
x 12.03 Present factor used in Ringgold County to determine Assessed
x 39 number net taxable acres
21,333 Assessed value
x .447021 Anticipated rollback for 2014
x .03433851levy $34.33851 per thousand (varies with taxing district)
$328property tax (rounded to nearest even whole dollar)
Subject to Family farm credit and Agland Credit



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