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Montgomery County, Iowa
-- Assessment Information --

Important Dates |  Credits & Exemptions |  Appeals
Tax Facts |  Forms

Important Dates:

  • January 1: Effective date of current assessment.
  • April 16 through May 5: Protest of assessment period for filing with the Board of Review.
  • May 1 through Adjournment: Board of Review meets each year.
  • July 1: Signup deadline for Homestead Tax Credit & Military Exemption Credit.
  • October 16 through October 25: Protest period for filing with the Board of Review on properties affected by changes in value as a result of Director of Revenue and Finance Equalization Orders (odd numbered years only).
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Credits & Exemptions

IOWA HOMESTEAD CREDIT

Description: Originally adopted to encourage home ownership through property tax relief. The current credit is equal to the actual tax levy on the first $4,850 of actual value.

Eligibility: Must own and occupy the property as a homestead on July 1 of each year, declare residency in Iowa for income tax purposes and occupy the property for at least six months each year. Persons in the military or nursing homes who do not occupy the home are also eligible.

Filing Requirements: Claim must be filed on or before July 1. Claim is allowed for successive years without further filing as long as eligible.

IOWA MILITARY EXEMPTION

Description: Reduces the taxable value of property for military veterans.

Eligibility: The amount of exemption varies. Must own the property on July 1 of each claim year.

Filing Requirements: A qualified veteran must file a claim with the local assessor by July 1. Subsequent claims need not be filed on the same property.

IOWA FAMILY FARM LAND CREDIT

Description: Credit established to partially offset the school tax burden borne by agricultural real estate. Current law allows a credit for any general school fund tax in excess of $5.40 per $1,000 of assessed value.

Eligibility: All land used for agricultural or horticultural purposes in tracts of 10 acres or more and land of less than 10 acres if contiguous to qualifying land of more than 10 acres. The owner or designated person must be actively engaged in farming the land.

Filing Requirements: Claims must be filed with the assessor by November 1. Subsequent claims are not required if ownership and designated person actively engaged in farming remain the same.

Visit the Iowa Deparment of Revenue's website to see a complete list of all property tax credits and exemptions, and where to apply.

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Protest & Appeal of Assessments

Any property owner or aggrieved taxpayer who is dissatisfied with the owner's or taxpayer's assessment may file a protest against such assessment with the board of review on or after April 16th, to and including May 5th of the year of the assessment. Said protest shall be in writing and signed by the one protesting or by the protester's duly authorized agent. Taxpayer may have an oral hearing thereon if request therefore in writing is made at the time of filing the protest. Said protest must be confined to one or more of the following grounds:

  1. That said assessment is not equitable as compared with assessments of other like property in the taxing district. When this ground is relied upon as the basis of a protest the legal description and assessments of a representative number of comparable properties, as described by the aggrieved taxpayer shall be listed on the protest, otherwise said protest shall not be considered on this ground.
  2. That the property is assessed for more than the value authorized by law, stating the specific amount which the protesting party believes his property to be over-assessed, and the amount which the party considers to be its actual value and the amount the party considers fair assessment.
  3. That the property is not assessable, is exempt from taxes, or is misclassified and stating the reasons for the protest.
  4. That there is an error in the assessment and state the specific alleged error.
  5. That there is fraud in the assessment which shall be specifically stated.

In addition to the above, the property owner may protest annually to the board of review under the provisions of section 441.35, but such protest shall be in the same manner and upon the same terms as heretofore prescribed in this section.

Iowa Code Reference: Sec. 441.37
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Tax Facts

  1. All property has an assessed value as of January 1 of each year.
  2. The Fiscal year begins July 1 and ends June 30.
  3. Taxes are levied in March for the current fiscal year based on the value present on the January 1 assessment date first preceding the commencement of the fiscal year.
  4. The taxes for any fiscal year are payable in the next fiscal year.
  5. Taxes are levied as one sum for a fiscal year but may be paid in two installments (there is no such thing as first half taxes, 2nd half taxes; payments, yes, but taxes no).

SO

As an ordinary practical matter, a seller will pay all taxes DUE in the current fiscal year and will, in addition, obligate himself/herself to a pro-rata sum based on his/her beneficial possession of the property during the CURRENT fiscal year.

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Assessor's Downloadable Forms
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