The Scott County Assessor’s Office has completed the Bettendorf residential property revaluation project and homeowners in Bettendorf have been notified of their new assessments by mail.
During the revaluation project, which began in mid 2015 and ended in late 2016, appraisal staff went door-to-door to all Bettendorf residences to inspect properties and capture the most recent data and the current condition and quality of properties to determine new assessment values. Residential property sales were then analyzed and final adjustments were made to all land and buildings to arrive at the new assessed values.
The purpose of revaluation projects is to obtain current and accurate property data, determine current condition and quality of improvements, create equity among similar properties, and ultimately to ensure assessments reflect current market values. It has been 14 years since the County Assessor’s Office did door-to-door inspections in Bettendorf. Interior inspections are the best way to gauge current condition and ensure an accurate assessment of a property. The more accurate the Assessor’s data, the more accurate and fair property assessments are for property owners.
In 2013, $1.2 million dollars was budgeted for the revaluation project to inspect, measure and revalue 14,000 residential parcels in Bettendorf. The final project took approximately 18 months to complete at a cost of $1,159,809, or $40,000 under budget.
Overall, Bettendorf residential property assessment values went from a prior total of $2,813,169,800 in 2016 to $3,091,577,880 in 2017 when the project was completed, a $278,904,260 increase in overall assessment totals city wide, or about 9.91%.
However, that does not mean that property owners can expect exactly a 9.9% increase in their property’s new assessment. To reflect current fair market value some properties warranted much more than a 10% increase, some properties a bit less, and about 2,700 or about 20% of the residential properties in Bettendorf stayed the same or actually decreased in value. Value adjustments are dependent on the particular location of a property, the current condition, desirability, and market values of comparable properties in that area, among many other factors that are considered.
Per Iowa law, assessed values should be at 100% of market value, meaning the new assessment should reflect what a property owner would reasonably expect a potential buyer to pay for the property if were currently listed for sale. Some property owners will agree with the new assessments and others may not.
Property owners with questions or concerns about their new assessment should first verify the accuracy of their property’s data found on the Scott County Assessor’s website at www.scottcountyiowa.com/assessor. Scott County property owners can also use the site to compare their property to other similar properties using the built-in comparable search tool.
After reviewing the new property data online and reviewing potential comparable properties, property owners with further questions should contact the Scott County Assessor’s Office at 563-326-8635. Appraisal staff will answer questions, verify property data accuracy, and explain the reason(s) for the new assessment.
Then, after discussing with appraisal staff, Bettendorf residential property owners still aggrieved may request to meet informally with a representative of Vanguard Appraisals, Inc. and have the opportunity to provide any documentation or other proof that an assessment adjustment might be warranted. If a property visit is required, such as to verify incorrect property data, inspections will also be scheduled at this time.
In April, per Iowa law, all property owners in Scott County, including Bettendorf residential property owners, have the legal opportunity to protest their 2017 assessments, either informally with the Assessor’s Office and/or more formally to the Board of Review.
The new 2017 assessments will be reflected on September 2018 property tax bills.
If you have any questions regarding the project or assessments please contact the Scott County Assessor’s Office at 563-326-8635.