Iowa Admin. Code r. 701-102.2

Current through Register Vol. 47, No.14, January 8, 2025

Rule 701-102.2 - 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 102.2(1) and rules 701-102.3(421,428,441) to 701-102.7 (421,427A,428,441).

This rule is intended to implement Iowa Code sections 421.17, 428.4 and 441.21.

Iowa Admin. Code r. 701-102.2

Editorial change: IAC Supplement 11/2/22; Editorial change: IAC Supplement 10/18/23