Iowa Admin. Code r. 701-71.2

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 701-71.2 - Assessment and valuation of real estate

(1)Responsibility of assessor. The valuation of real estate as established by city and county assessors shall be the actual value of the real estate as of January 1 of the year in which the assessment is made. New parcels of real estate created by the division of existing parcels of real estate shall be assessed separately as of January 1 of the year following the division of the existing parcel of real estate.

(2)Responsibility of other assessing officials. Whenever local boards of review, county auditors, and county treasurers exercise assessment functions allowed or required by law, they shall follow the provisions of subrule 71.2(1) and rules 71.3(421,428,441) to 71.7(421,427A,428,441). This rule is intended to implement Iowa Code sections 42117., 4284. and 44121..