Important Dates to Remember
- January 1 - Effective date of current assessment.
- April 2 through April 30 inclusive - Protest of assessment period for filing with the local Board of Review.
- May 1 through adjournment - Board of Review meets each year.
- July 1 - Filing deadline for new Homestead Credit, Military Exemption and Business Property Tax Credit applications.
- July 1 through November 1 - File applications for Family Farm Credit
- October 16 through October 25 inclusive - Protest period for filing with the Board of Review on those properties affected by changes in value as a result of the Director of Revenue and Finance Equalization Orders (odd numbered years)
Things to Remember
- Assessed value and taxable value are not the same.
- Property is assessed as of January 1st.
- Property is reassessed every two years.
- Taxes are levied on a value determined by the auditor by applying a "rollback" percentage to the assessed value and deducting any applicable exemptions or credits. The "rollback" percentages vary each year.
- On values determined as of January First, one does not pay taxes until eighteen months later.
- The "rollback" is the percentage of actual value that is determined by the Director of Revenue and Finance each year on several classes of property where the total value increase statewide, exceeds four percent for each class of property. This percentage determined is certified to and applied by the local county auditor to all property in each class effected throughout the state. Percentages are the same for all assessing jurisdictions in the state.
- Increases in assessed value, of an individual parcel of property as determined by the assessor, may exceed four percent within a jurisdiction.
- Agricultural property, except agricultural dwellings, are assessed on the basis of productivity and net earning capacity using a five year crop average and capitalized at a rate set by the Legislature.
- Tentative and final equalization orders are issued by the Director of Revenue and Finance in odd numbered years on or about August 15th, and October 1st respectively. The orders are sent to the county auditors who apply them to the classes of property affected, if any.
- Assessors and members of the Board of Review are appointed to their terms of office. Assessors in addition to completing the required 150 hours of Continuing Education, must be approved by a majority vote of the Conference Board in order to be reappointed.
The Assessor Does Not
- Collect taxes
- Calculate taxes
- Determine tax rate
- Set policy for the Board of Review