The department of revenue on or about August 15, 1977, and every two years thereafter shall order the equalization of the levels of assessment of each class of property in the several assessing jurisdictions by adding to or deducting from the valuation of each class of property such percentage in each case as may be necessary to bring the same to its taxable value as fixed in this chapter, chapters 427 through 440, and chapter 443. The department shall adjust to actual value the valuation of any class of property as set out in the abstract of assessment when the valuation is at least five percent above or below actual value as determined by the department. For purposes of such value adjustments and before such equalization the director shall adopt, in the manner prescribed by chapter 17A, such rules as may be necessary to determine the level of assessment for each class of property in each county. The rules shall cover:
1. The proposed use of the assessment-sales ratio study set out in section 421.17, subsection 6.
2. The proposed use of any statewide income capitalization studies.
3. The proposed use of other methods that would assist the department in arriving at the accurate level of assessment of each class of property in each assessing jurisdiction. [C51, §481, 482; R60, §742; C73, §834; C97, §1379; C24, 27, 31, 35, 39, §7141; C46, 50, 54, 58, §442.16; C62, 66, 71, 73, 75, 77, 79, 81, §441.47] 2003 Acts, ch 145, §286; 2009 Acts, ch 41, §130; 2015 Acts, ch 109, §71, 72, 75; 2021 Acts, ch 80, §277 \n
Notes of Decisions
Soifer v. Floyd Cnty. Bd. of Review, 759 N.W.2d 775 (Iowa 2009).
· cites it 2× “” Iowa Admin. Code r. 701 — 71.12(3). This determination is part of a process that culminates in an order by the director of revenue to equalize "the levels of assessment of each class of property in the several assessing jurisdictions.”
Appanoose Cnty. Rural Taxpayers Assoc., Inc. v. Iowa State Tax Comm'n, 158 N.W.2d 176 (Iowa 1968).
· cites it 4× ““(e) The December 29, 1965, order of the Board of Review is void for the reason that Section 441.47, Code of Iowa, 1962, is unconstitutional and void in that said Section fails to establish standards for adjustments and further constitutes an unlawful delegation of power in that…”
Avery v. Peterson, 243 N.W.2d 630 (Iowa 1976).
· cites it 2× “The Revenue Department’s classification system at issue here is authorized by Code section 441.47. That section empowers the Director of Revenue to promulgate rules for the adjustment of property valuations among the various classes of property.”
Fennelly v. A-1 Mach. & Tool Co., 728 N.W.2d 163 (Iowa 2006).
“§ 441.47, and taxing authorities (e.g., cities, counties, school districts, and townships) establish their budgets based on the valuations in the assessments and determine the rate of tax, based on the value of the property, needed to fund their budgets, id.”
Maytag Co. v. Partridge, 210 N.W.2d 584 (Iowa 1973).
· cites it 2× “Section 441.47 of the Code provides the remedy for this kind of situation, although not at the hands of taxpayers.”
Brinegar v. Iowa Dep't of Revenue, 437 N.W.2d 585 (Iowa 1989).
· cites it 6× “Iowa Code section 441.47 requires the director of revenue, every two years, to order the equalization of the levels of assessment of each class of property in the several assessing jurisdictions by adding to or deducting from the valuation of each class of property such…”
Hougen v. George, 120 N.W.2d 497 (Iowa 1963).
· cites it 2× “The State Board of Review is directed by statute, according to section 441.47: “Adjusted valuations. The state board of review shall adjust the valuation of property in the several counties adding to or deducting from the valuation of each kind or class of property such…”
Metro. Jacobson Dev. Venture v. Bd. of Review, 524 N.W.2d 189 (Iowa 1994).
· cites it 2× “Iowa Code § 441.47 (1993). The actual value of property in an assessing jurisdiction is determined by the director based on appraisals made by the director's office and based on sales information provided to the director.”
Hartig v. Prop. Assessment Appeal Bd. (Iowa Ct. App. 2026).
· cites it 2× “See Iowa Code § 441.47 (requiring the “equalization of the levels of assessment of each class of property” in the assessing jurisdictions every two years); Off.”
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