It's that time of year--Tax Time!

Property tax time that is! Each year at this time the city of Cedar Rapids mails out the annual assessments to its property owners. Any changes to your property valuation must be mailed out to you by April 15th. Here is an article to check out to see why your property valuation may be increasing, and as a result your property taxes as well. http://www.kcrg.com/news/local/Cedar-Rapids-Council-Quietly-Passes-New-Budget-Property-Taxes-Going-up-for-Homeowners-117630013.html In addition, you'll note in the article that the city has already implemented a 4.8% utility hike on your water/garbage/recycling bill. Also, if you'll look back not to long ago, Alliant was proposing at 14% increase in their utility rates, charged us 10% without IUB approval for a few months, and then the board finally approved at 9% increase. Not to ramble, but this brings me to my point--when you get your assessment bill, take a good look at it! Iowa Code 441.21 states that the assessment and taxation based on it must be reasonable, fair, and of market value. With the way values have been fluctuating in the real estate market in the last year, many assessments will probably be above market value. If you feel that your home has been unfairly assessed based on recently sold comparables, or that it is assessed unreasonably higher than those comparable homes around your neighborhood, there is something you can do about it! A homeowner wanting to contest their assessment must file an appeal with the City Assessor's office between April 16-May 5. It's gotta be hand delivered or USPS postmarked by May 5! Your appeal is then considered by a Board of Review consisting of 5 members appointed by the city conference board, who all serve 6 year staggered terms. There must be at least 1 real estate broker and 1 architect/expert in building trades. Here is the link to the application for your appeal. http://www.iowa.gov/tax/forms/56064.pdf Please let me know if you decide to file an appeal; I want to know how it turns out! I am always an advocate for making yourself more knowledgeable about processes such as this, because it makes you more aware of what policies are in place in our city and how you can challenge them. In case you didn't know, we're also being asked to vote on May 3 for a 20 year extension of the local option sales tax. My personal opinion (somewhat) aside, ask yourself how this city is gathering "revenue" to fund its budget and flood recovery and whether or not the over-taxation of its citizens will really create the sustainable growth we need for a 21st Century City?