HOMESTEAD LAW CHANGE

On May 4, 2023, Governor Reynolds signed House File 718, establishing a homestead tax exemption for claimants 65 years of age or older.

In addition to the homestead tax credit, eligible claimants who own the home they live in and are 65 years of age or older on or before January 1 of the assessment year are now eligible for a homestead tax exemption. For the assessment year beginning on January 1, 2023, the exemption is for $3,250 of taxable value. For assessment years beginning on or after January 1, 2024, the exemption is for $6,500 of taxable value. An exemption is a reduction in the taxable value of the property rather than a direct reduction in the amount of property tax you pay.

The Iowa Department of Revenue has amended the Homestead Tax Credit and Exemption (54-028) form to allow claimants to apply for the new exemption. Applications are due July 1 to your local assessor. If the exemption is granted, the exemption will be allowed for future years without future filing as long as the claimant continues to qualify.

Please stop into the Assessor’s Office at Kossuth County Courthouse, 114 W. State St. Algona to apply for this new exemption if you were 65 on or before January 1, 2023 and live in the house.  The form is also available through Real Estate Search on your parcel.  If any question, please call 515-295-3857 or by email at assessor@kossuthcounty.iowa.gov .  The deadline to apply is July 1, 2023.

January 1, 2023 Equalization Notes

2023 values have been updated.

Each odd numbered year is an equalization year, meaning assessed values should be at 100% of market value using sales analysis tools.  If the assessor doesn't perform accordingly, the Iowa Department of Revenue (IDR) will issue orders to apply the increase or decrease countywide.  However, agricultural land and buildings are valued by the productivity formula. IDR tells assessors what the average acre value is for this purpose.  The per acre value for Kossuth County is $2,072.08 which is applied using CSRs.  The CSR rate for Kossuth County this year is $24.64 per point which is a 32% increase from last year.

The average increase for rural residential parcels is 12%, Incorporated 6%, and commercial parcel's average increase is 14%.  There are several variables involved in individual increases such as location, new construction and condition changes.

The good news is that the rollback percentage will lower the assessed value to the taxable value.  Since there were significant value changes statewide, the rollback % will be quite favorable to taxpayers.

2022 Valuations have been updated.  We have went to new 2020 Real Property Appraisal Manual, this is the reason why all improvement values have changed.

Spring 2021 Aerials are now live!  Refer to GIS Department for more detail information or found at the bottom of you parcel information.

When searching by parcel number - PID - do not include the dashes, i.e. to search for 22-02-382-001, enter 2202382001 in search box.

Iowa State Association of Assessors

ISAA Website

Kossuth County Assessor's Website

Kossuth Co Home Page

ESTIMATE taxes on a parcel - Disclaimer - This is only an estimate and subject to change.