Iowa board holds sway over millions in taxes
January 6th, 2012 by Ric Hanson
DES MOINES, Iowa (AP) — Decisions by the Iowa Property Assessment Appeal Board will affect millions in property taxes paid by property owners or spent by some Iowa cities. The Des Moines Register reports Des Moines, Clive, Urbandale and West Des Moines could lose up to $3 million in property taxes if the property values are cut, and local school districts could lose millions more.
The slumping economy has hurt the value of commercial property, prompting the property owners to demand that their assessments be lowered. When that happens, they have smaller tax bills and the cities and schools have less to spend.
The three-member Property Assessment Appeal Board was created in 2007 by the Legislature. Its charge is to review decisions made by county boards of review.