Assessor News

Assessor Property Record information is now available online.

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Franklin County Real Estate Website

Franklin County Assessor's Office Releases 2011 Assessment Information

Commercial real estate: 

Commercial properties are to be assessed at 100% market value.  A sales ratio study, the comparison of assessed value to sales prices, is used to determine how the assessed values compare to market value.  The median ratio of the Franklin County commercial sales study is 87.7%, meaning assessed values, on average, needed to be increased to be at market value.  The assessed value of commercial structures was increased by 10% to attain acceptable assessment level. 

2009-2010 Franklin County Commercial Sales Study

Iowa Commercial Sales Ratio Map

Residential real estate: 

Residential properties are also to be assessed at 100% market value.  The median ratio of the Franklin County residential sales study is 95.2%.  Due to the ratio being so close to close to 100%, assessments on residential properties only needed to be increased minimally.  There was no flat accross-the-board adjustment to each and every property.  No two properties are exactly alike, not all properties are maintained to the same standards, and the age old saying "location, location, location" all factor into the overall assessment of each property.

2010 Franklin County Residential Sales Study

Iowa Residential Sales Ratio Map

Agricultural Real Estate: 

The 2011 agricultural land and building assessments increased 13% in Franklin County.  The average increase accross the state of Iowa is 25% due to increasing crop yields and prices.  Iowa agricultural land and building assessments are based on a on productivity formula and not market value. The productivity formula is comprised of a five year average (currently 2005-2009) of commodity yields, crop prices, and expenses specific to each county in the state.  A price per CSR point is determined and applied to every agricultural parcel equally in the county.  

The increase in assessments will be mitigated by the 4% limitation of statewide taxable growth.  This is accomplished by reducing the assessed value by a factor determined by the Department of Revenue known as a rollback.  The projected rollback on the 2011assessment for agricultural land and buildings is about 57%.  The impact of this rollback on agricultural assessments in Franklin County will actually lower the taxable value approximately 5% compared to the current taxable value.

View Comparison of Franklin County Agricultural Values from 2010 to 2011

Iowa Agricultural Productivity Map

Homestead & Military Applications

• July 1st is the deadline for filing for these exemptions.
• Anyone who has moved to or built a new home as their primary residence should file for the Homestead Application.
• There are requirements for persons applying for the Military Exemption.  Please see that page of the website to see if you qualify.