Property taxes are the primary revenue source our communities in Iowa and Illinois rely upon to pay for public services and needs. My experience in local government provides a unique understanding of the process. Our tax assessors rely upon the techniques of Mass Appraising which is the process of:

• Valuing a group of properties as of a given date using common data, standardized methods, and statistical testing.

• Relying upon valuation equations, tables, and schedules developed through mathematical analysis of market data.

• Determining property values based on sales information, property characteristics, and statistical methods.

Here is the reality of property taxes and assessed valuation that you need to know and it’s a harsh reality – You have to be your own advocate! Our system of checks and balances requires the elected officials to set a tax rate levy based on the needs of the community (I’ve done that), an assessment staff that as dictated by laws of the State calculate individual values based on mass valuation techniques and the State which certifies community budgets and accepts the tax levies. In Iowa the State Government sets a rollback amount to slow the pace of tax liabilities and growth.

Lots of people do their jobs in very responsible ways to serve and protect the good of the community. It’s the property owner’s responsibility to make sure they are being taxed and assessed equitably. Both Iowa and Illinois have a process to appeal your assessment and taxation which is time specific, bureaucratic as government processes are yet systematically fair to those that follow.

My experience in property tax valuation has included work with various city or county assessment offices when they seek a second outside opinion but mostly, I work with private property owners. I’ve stood in front of the local tax appeal board or commission presenting the facts or testified in elevated appeals in District Court or the various State Property Tax Appeal Boards; property tax appeals do not need to be complex.

I do a great amount of work in property tax appeals and encourage you to come back to this site as I will continue to publish resources and a few case studies to provide a better understanding of the process and your responsibilities as a property owner.

The aftermath of the COVID pandemic created a great amount of inflationary pressure in our real estate markets with assessment offices struggling to balance reasonable observations with the data conclusions pushed out by computer value models. A lot of moving parts, with the property owner ultimately responsible for making sure they have been taxed fairly.

Property tax appeal shouldn’t be hard. Please come back to this site as I will be publishing sources of information, processes with timelines and explanations of how it all works. Many times, a residential homeowner can do this themselves and with documentation from an independent appraiser and be very successful.

When an Estates value becomes a taxable issue a valuation is typically needed. I continue to monitor the requirements of the IRS and ensure the valuation for estate purposes conform to IRS specifications; not always the same as that of a financial institution.

Typically, valuation will reflect the date of death and considered a retrospective valuation. If numerous properties are in the estate, we can discuss the most reasonable and financially acceptable course of action.

Over the years I’ve found that love ones can pass on significant wealth and assets to their families, sometimes they can leave challenges. If its as something as simple as Mom or Dads house needs to sell and you’re a trustee that lives out of town or the parents left a business and several buildings, don’t worry. 

Contact me and lets chat about your situation. If there facets of your situation I can’t serve I likely know the professionals that can.