Property Tax - Opinion - Commercial Sales 2006

From: Hyman, Dale [IDR]

Sent: Monday, April 02, 2007 10:41 AM

To: Iowa Assessors

Subject: 2006 Commercial Sales


Attached is a work sheet with tabs for an overview of commercial sales (Excel) ratios, a graph of ratios, and a listing of 2006 sales that we have coded good for analysis. There are still a few 2006 sales to be entered so it is not a complete listing. The regular paper listing will be sent in a few weeks with the standard letter and set time frame for requesting changes in sales listing. We also plan on delivering the appraisal results by early May. A casual analysis of the commercial sales indicates a statewide median of 88.8% with a good clustering of counties around the median. The residential sales median for 2006 is 92.2%.

Equalization is based on a combination of sales and appraisals so the appraisals may significantly change the median especially for those counties with fewer sales.

Dale Hyman, Administrator
Property Tax Division
Iowa Department of Revenue

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