Commission lowers tax rate

The assessed valuation for Nodaway County increased 3.7 percent with the 2023 numbers due to residential, agriculture, commercial and railroad/utilities values rising.

The personal property values of Nodaway County citizens decreased from $103,703,290 in 2022 to $99,808,480 this year, which was the only category that was smaller than the year previous. Personal property includes livestock, farm machinery, vehicles including recreational vehicles, grain and other agricultural crops, manufactured homes, historical motor vehicles, aircraft and aircraft built from kits, pollution control tools and equipment as well as other tangible property.

Residential assessments increased due to new homes and structures being built. The 2022 amount was $137,669,390 and the 2023 increased amount raised to $149,165,490.

Agriculture and commercial properties saw increases also, $36,873,540 to $37,730,990 with agriculture land and $94,127,390 to $99,787,380 with commercial property.

The assessed valuation of land is taxed at residential, 19 percent; agriculture, 12 percent and commercial, 32 percent. There is also a $1.14 surtax placed on commercial inventory.

The market sale of land does not influence the assessed valuation that the county places on real estate whether residential, agriculture or commercial. The state of Iowa’s assessed value is set by the market price of the land.

Railroad and utilities had an increase from $45,535,162 to $46,958,755 million in value.

On August 31, the county commissioners set the 2023 tax rate for the Administration Center at 15¢ per $100 assessed valuation after a public hearing, where no citizen spoke. This was a one-cent drop from 2022.

The taxes will allow $650,177 to be levied for the purpose of the maintenance of the Administration Center, which is 15 years old. The initial tax was 16¢ in 2008, but has fluctuated down to 14¢ until recent years. The bank loan annual payment is $356,000 to US Bank, which cannot be refinanced with the bank or other financial institution. Other expenses budgeted are utilities, $36,600; janitorial, $11,000 and maintenance, $28,000. There is presently $1,011,586.38 in the bank.

The commissioners also approved the tax levies for the Senate Bill 40 and senior citizens at 5¢ per $100 assessed valuation. Each entity will receive $216,725.

The taxes will be collected at the end of 2023 to be used in the 2024 budget set in January 2024.