Iowa Code

Iowa Code § 428.4 (2026)

Real estate — buildings

✓ current as of July 2026

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1. Property shall be assessed for taxation each year. Real estate shall be listed and assessed in 1981 and every two years thereafter. The assessment of real estate shall be the value of the real estate as of January 1 of the year of the assessment. The year 1981 and each odd-numbered year thereafter shall be a reassessment year. In any year, after the year in which an assessment has been made of all the real estate in an assessing jurisdiction, the assessor shall value and assess or revalue and reassess, as the case may require, any real estate that the assessor finds was incorrectly valued or assessed, or was not listed, valued, and assessed, in the assessment year immediately preceding, also any real estate the assessor finds has changed in value subsequent to January 1 of the preceding real estate assessment year. However, a percentage increase on a class of property shall not be made in a year not subject to an equalization order unless ordered by the department of revenue. The assessor shall determine the actual value and compute the taxable value thereof as

Tue Dec 09 22:11:46 2025 Iowa Code 2026, Chapter 428 (32, 0) §428.4, LISTING PROPERTY FOR TAXATION 2\n\nof January 1 of the year of the revaluation and reassessment. The assessment shall be completed as specified in section 441.28, but no reduction or increase in actual value shall be made for prior years. If an assessor makes a change in the valuation of the real estate as provided for, sections 441.23, 441.37, 441.37A, 441.37B, and 441.38 apply. 2. The assessor shall notify the director of revenue, in the manner and form to be prescribed by the director, as to the class or classes of real estate reviewed, revalued, and reassessed and shall report such details as to the effects or results of the revaluation and reassessment as may be deemed necessary by the director. This notification shall be contained in a report to be attached to the abstract of assessment for the year in which the new valuations become effective. 3. Any buildings erected, improvements made, or buildings or improvements removed in a year after the assessment of the class of real estate to which they belong, shall be valued, listed, and assessed and reported by the assessor to the county auditor after approval of the valuations by the local board of review, and the auditor shall thereupon enter the taxable value of such building or taxable improvement on the tax list as a part of real estate to be taxed. If such buildings or improvements are erected or made by any person other than the owner of the land, they shall be listed and assessed to the owner of the buildings or improvements as real estate. [C51, §460, 465; R60, §719, 720; C73, §812; C97, §1350; C24, 27, 31, 35, 39, §6959; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, S81, §428.4; 81 Acts, ch 140, §3, 4; 82 Acts, ch 1190, §5] 89 Acts, ch 296, §50, 51; 97 Acts, ch 158, §35; 2003 Acts, ch 145, §286; 2005 Acts, ch 150, §122; 2016 Acts, ch 1011, §121; 2017 Acts, ch 151, §2, 29 Referred to in §331.512, 420.207, 443.22, 445.32 2017 amendment to subsection 1 applies to assessment years beginning on or after January 1, 2018; 2017 Acts, ch 151, §29

Notes of Decisions

Cited in 30 cases (1 in the last 5 years), 1953–2026 · leading case: Farmers Grain Dealers Ass'n of Iowa v. Woodward, 334 N.W.2d 295 (Iowa 1983).

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Farmers Grain Dealers Ass'n of Iowa v. Woodward, 334 N.W.2d 295 (Iowa 1983). · cites it 6× “Real property was valued as of January first of each fourth year (now every second year); that value was also the value affixed to the property for the three interim years with increases or decreases for changes in value since the first year.”

Nw. States Portland Cement Co. v. Bd. of Review, 58 N.W.2d 15 (Iowa 1953). · cites it 10× “Section 428.4, Code of 1950, I. C. A., provides: “Property shall be taxed each year, and jiersonal property shall be listed and assessed each year in the name of the owner thereof on the-first day of January.”

Compiano v. Bd. of Review of Polk Cnty., 771 N.W.2d 392 (Iowa 2009). · cites it 2× “Iowa Code § 428.4 (2003). The assessment determines the value of the real estate as of *396 January 1 of the year of the assessment, and the amount of the assessment is used to determine the amount of taxation.”

Transform, Ltd. v. Assessor of Polk Cnty., 543 N.W.2d 614 (Iowa 1996). · cites it 4× “oreover, as noted in Vogt , the principle is now firmly established in the administrative regulations supporting chapter 441: [A change in value of real estate since the last assessment] is the only ground upon which a protest pertaining to the valuation of a property can be…”

Builders Land Co. v. Martens, 122 N.W.2d 189 (Iowa 1963). · cites it 4× “48 (chapter 201, Acts of the Fifty-sixth General Assembly, 1955), and therefore the lots were not subject to revaluation and reassessment in 1961 under Code section 428.4. Section 409.48 provides: “Assessment of platted lots.”

James Black Dry Goods Co. v. Bd. of Review, 151 N.W.2d 534 (Iowa 1967). · cites it 4× “Section 428.4, Code of Iowa, provides for quadrennial assessment of real estate and for annual assessment of new buildings and property not previously included.”

Sevde v. Bd. of Review of City of Ames, 434 N.W.2d 878 (Iowa 1989). · cites it 4× “, Iowa Code §§ 428.4 , 428.7, 441.29 (1987).”

Bd. of Sup'rs of Linn Cty. v. Dept. of Revenue, 263 N.W.2d 227 (Iowa 1978). “§ 428.4. Real property was valued once every four years unless the assessor found certain property had changed in value since the previous assessment.”

Grundon Holding v. Bd. of Review of Polk Cty., 237 N.W.2d 755 (Iowa 1976). · cites it 2× “At all times material to this appeal, § 428.4, The Code, 1966, provided all real estate should be “listed and valued” in 1968 and every four years thereafter.”

Crews v. Collins, 109 N.W.2d 235 (Iowa 1961). · cites it 4× “Appellant bases his claim on the last clause of section 428.4, which reads: “* * * but if such buildings are erected by another than the owner of the real estate, they shall be listed and assessed to the owner as personal property, but buildings and fixtures erected on real…”

Okland v. Bilyeu, 359 N.W.2d 412 (Iowa 1984). · cites it 5× “§§ 428.4 and 441.18. The assessor must in any year value and assess any real estate that the assessor finds was not listed, valued and assessed in the assessment year immediately preceding.”

Eagle Food Centers, Inc. v. Bd. of Review, 497 N.W.2d 860 (Iowa 1993). · cites it 2× “Iowa Code § 428.4 . In an interim year, assessments of real estate are made only to the extent that the property was incorrectly valued in the assessment year, not listed in the assessment year, or experiences a change in value as of the- assessment year.”

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